London (IFN) Croatian generic drug maker Pliva said on Friday that consultations with its independent advisor Deutsche Bank concluded that the latest bid for the company by Iceland's Actavis Group of 795 Croatian kuna a share "reflects fair value".
Actavis and US-based rival Barr Pharmaceuticals are competing for Pliva, with Barr expected to announce its next move today. Barr has tabled a formal bid for Pliva, which is worth 755 kuna per share.
Pliva said in a statement that Actavis believes an eventual combination of the two generic drug makers "represents a superior business proposition, which will best ensure the future development and growth of the combined company in all markets, including Croatia, and that Actavis strongly believes that future of the global generic business is in consolidation."
Pliva added that its supervisory board "believes it's important to note that Actavis is present in markets where Pliva is also present, and where overlap in business operations may exist."
Icelandic Financial News (IFN) is available on Factiva, a joint venture between Reuters and Dow Jones Newswires, FT.COM, LexisNexis, Comtex, Gale and Thomson via the Nordic Business Report.
Viðskiptablaðið er 25 ára og af því tilefni býðst nýjum áskrifendum að kaupa áskrift á 50% afslætti.
Afmælisverðið er aðeins 2.500 krónur.
Tilboðið er fyrir nýja áskrifendur. Núverandi áskrifendur geta bætt við sig áskrift á þessu verði. Gildir í 4 mánuði. Áskrifendur fá Viðskiptablaðið, Frjálsa verslun og Fiskifréttir sent ásamt vefaðgangi að vb.is og fiskifrettir.is