Cedrob wants to raise stake in PKM Duda

Meat processing company Cedrob has announced a tender offer for 23 percent in sector firm PKM Duda. It is offering PLN 7.40 per share, putting the potential deal value at PLN 47.3 million. If the offer is successful, Cedrob will raise its current stake in PKM Duda to 32.99 percent. Cedrob said that the offer would go through only if subscriptions are made for at least 20 percent in PKM Duda. Subscriptions start on October 13 and end on November 4. The offer will be managed by Ipopema Securities. The share purchase is subject to approval from the Office of Competition and Consumer Protection.