November 1 (SeeNews) - Bulgarian veterinary drug maker Biovet said on Tuesday its majority owner Huvepharma and minority shareholder Opportunity 2009 had increased their buyout offer for the remaining 9.99% stake they do not already own to 15.11 levs ($8.53/7.72 euro) per share.
The new buyout offer was submitted to Biovet on Monday, the company said in a bourse filing.
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The deadline for accepting the offer is set at 28 days from the date of the announcement, and it can be extended to no more than 70 days depending on certain conditions, Biovet added.
On Monday, Biovet announced it had been notified on October 28 that Huvepharma and Opportunity 2009 had withdrawn their previous offer of 15.03 levs per share.
Huvepharma currently owns 86.32% of Biovet's shares, whereas Opportunity 2009 has a 3.68% stake. The two companies signed on July 18 an agreement on the joint management of Biovet.
Biovet shares closed at 15.2 levs, up 1.33%, on the Sofia bourse on Tuesday, as 230 shares changed hands during the trading session.
(1 euro=1.95583 levs)