Polfa Kutno continues its fight to take over Jelfa

"If this happens, a merger will be the next step," said a PK's president Janusz Guy. "We cannot afford to wait forever. We already have alternative plans of development. We have acquired the green light from our investors and we want to buy the shares in Jelfa, but not at any cost," added the president. The company has about half of the money it needs to purchase the equity and plans to borrow the rest. If the merger takes place, it would probably result in a major operation including a shared shares issue which would also involve Jelfa's shareholders. The parity of exchange would be up to the financial investors. It remains unknown whether Polfa's offer of zł.100 million is a final one. (Puls Biznesu, p. 9) M.P.