Take-over fight for Jelfa is becoming more intense

"Due to the lack of visible progress in negotiations, Enterprise Investors decided to analyze its previous offer. We would like to congratulate the Industrial Development Agency [ARP] on the successful inflation of Jelfa's price. Zł.90 is a high price, which takes into account increments in its value following our investment," said Ryszard Wojtkowski, a partner in EI. The fund is willing to acquire a 66% stake in the pharmaceutical company and soon it will make a bid for the shares. "We are just starting discussions concerning this issue. I cannot say anything more at the moment," commented Arkadiusz Krężel, president of ARP. "It is too early to comment. We will think of taking steps, which will result from our activities up to this moment," said Dariusz Budzeń, director of Pekao/Access, which is advising Sanitas on the take-over. It is possible that Sanitas might improve on its offer, which until recently stood at zł.87.1 per share. (Puls Biznesu, pp. 1, 9; Parkiet, p. 1) M.M.