Stakes rise as battle for Polfa Kutno hots up

Italian Recordati, the Americans' competitor, intends to act in a similar way. The contest of offers has driven up Polfa's share price, which has increased by 28% since March 29, when Recordati revealed its intentions. At the moment, Polfa's shareholders claim that none of the offers is enough to convince them, however, the one given by Ivax is looked on in a more favorable light. The Americans are willing to zł.310 per share, while Recordati's offer is zł.287. Polfa's management board hopes for a more profitable offer to show up soon. (Puls Biznesu, p. 7) A.F.