March 10 (SeeNews) - The Bulgarian financial regulator said it has issued a definitive ban on the publishing of a buyout bid by Bulgarian packaging products manufacturer Fort for a 5.4% stake in its local peer Unipack [BUL:3U9] which it does not already own.
The reason for the ban is the inaccurate calculation of the fair price of Unipack’s shares, the Financial Supervision Commission (FSC) said in a statement on Thursday.
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In February, Unipack said its majority owner Fort has increased its buyout offer for the remaining 122,227 shares it does not already own to 9.303 levs ($5.05/4.76 euro) per share.
Unipack traded 7.51% higher at 9.999 levs as at 13:30 CET on Friday.
(1 euro = 1.95583 levs)