Ansell goes af­ter Pol­ish com­peti­tor

Townsville Bulletin - - Weekend Extra -

GLOVEand­con­dom maker Ansell is hav­ing an­other shot at buy­ing Un­imil, in­creas­ing its of­fer for the Pol­ish con­dom maker and low­er­ing the min­i­mum ac­cep­tance.

Ansell now is of­fer­ing $US42.2 mil­lion ($53.9 mil­lion) for Un­imil, with a 75 per cent ac­cep­tance, up from its orig­i­nal of­fer made in July, of $US34 mil­lion ($43.42 mil­lion), with a min­i­mum 80 per cent ac­cep­tance.

The orig­i­nal of­fer was aban­doned in Au­gust af­ter take-up failed to meet the min­i­mum ac­cep­tance re­quire­ment.

‘‘Since our ef­fort to pur­chase Un­imil last July, Ansell has con­tin­ued to fol­low Un­imil’s progress,’’ chief ex­ec­u­tive Doug Tough said.

‘‘We be­lieve the cur­rent of­fer, priced at Pol­ish zloty 5.90 per share, ap­prox­i­mately 11 per cent higher than the pre­vi­ous of­fer, will be viewed favourably by Un­imil’s in­sti­tu­tional and private share­hold­ers.’’

Un­imil is a con­dom man­u­fac­turer and mar­ke­teer, with the lead­ing re­tail con­dom mar­ket share in Poland and a pres­ence in Ger­many through its Con­domi sub­sidiary.

‘‘As pre­vi­ously ad­vised, this ac­qui­si­tion is in ac­cor­dance with Ansell’s an­nounced strat­egy of mak­ing bolton ac­qui­si­tions that broaden our ge­o­graphic reach,’’ Mr Tough said.

‘‘Un­imil of­fers lead­ing brands, strong mar­ket lead­er­ship and good peo­ple. More­over it gives us a sig­nif­i­cant pres­ence and ad­di­tional op­er­a­tional flex­i­bil­ity in East­ern Europe.’’

It fol­lows Ansell’s buy ear­lier this year of 75 per cent of Chi­nese con­dom com­pany Jiss­bon.

At its an­nual gen­eral meet­ing in Melbourne in Oc­to­ber, Ansell said Jiss­bon was track­ing slightly ahead of plan.

But in July the com­pany also warned that an­a­lysts’ ex­pec­ta­tions for its ful­lyear 2007 earn­ings per share (EPS), were too high.

Ansell shares yes­ter­day closed down 21 cents to $11.09.

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