Recordati ups the ante and trumps IVAX on Kutno deal

However, the Americans, who want to buy at least 75% of Kutno's shares, have only just started to collect the necessary documents for the transaction, which means they can only announce a call to purchase shares in July at the earliest, whereas Recordati's offer has already been valid for over a week. Indeed, as Walter Bevilacqua, Recordati's deputy president, revealed, "Quite a number of investors have already decided to sell us their shares." The Italian company plans to buy 40-49.9% of Kutno's capital, and if they manage to collect 25%, Ivax's offer will become futile. (Puls Biznesu, p.9) K.J.