Under the new offer from Barr, Pliva stock-holders who decide to sell their stocks would be able to do so and receive 743 kuna in cash per share, which equates to about US$25.73 per each Global Depositary Receipt (GDR) at current exchange rates. Stock-holders who decide to sell will also receive a 12 kuna per share dividend, which for shareholders means a 755 kuna cash payment per share, the US company reported.
Earlier this week, Pliva's Supervisory Board supported Barr's original proposal to announce the offer to stock-holders for the purchase of Pliva's entire issued capital.
Last night, Actavis said it had improved its offer for taking over Pliva and offered 723 kuna in cash per share and a 12 kuna per share dividend, which for shareholders means a 735 kuna cash payment per share, or a total of USD2.3 billion..
Actavis also said it acquired 1,505,943 shares and 371,865 GDR's, which represents nine per cent of Pliva's capital in circulation. The company added it already controlled 0.7 per cent of Pliva shares acquired earlier this year by Quaestus Private Equity Partners.
The Icelandic company said it had signed options contracts for another 10.7 per cent or 1,894,650 shares.
The US company Barr called on Pliva stock-holders on Friday not to sell their stocks to any potential buyers, but to allow regular bidding.
(EUR1 = 7.25 kuna)