SOFIA (Bulgaria), April 13 (SeeNews) – The Bulgarian financial regulator said it has temporarily banned a buyout offer by drug maker Sopharma [BUL:3JR] for the 22.37% stake in its local peer Unipharm [BUL:59X] which it does not already own.
The regulator provided no further details in its notice.
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In March, Sopharma launched a buyout bid for the remaining 1,342,234 shares it does not already own at a price of 4.35 levs ($2.4/2.2 euro) apiece.
In December 2016, Sopharma increased its stake in Unipharm by acquiring a further 8.87%.
Sopharma [BUL:3JR] shares traded unchanged from its last closing price, at 4.06 levs, by 11:05 CET on the Bulgarian Stock Exchange on Thursday.
(1 euro = 1.95583 levs)