READ MOREPAI said its new offer was 27.5 euros per share. That would value Ontex’s total outstanding shares at 2.2 billion euros ($2.6 billion). The value of the initial offer was not disclosed.
PAI said the revised offer was made on the basis of publicly available information and was conditional on its examination of Ontex’s books.
PAI’s revised bid represents a nearly 42 percent premium to the Ontex closing price of 19.41 euros on July 5, the day before the initial bid became public. ■