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Lek Takeover: KAD and SOD Want Novartis to Offer More than EUR 438.05

Ljubljana, 27 September - While Novartis was willing to offer SIT 98,000 per share (EUR 429.36) for drug-maker Lek, the two largest single shareholders want to get more than SIT 100,000 (EUR 438.05) per share. The Pension Fund Management (KAD) and the Restitution Fund (SOD) voted at Lek's general assembly on Friday against changes to the Lek company statute, which would allow the Swiss company to acquire Lek. As KAD chairman Joze Lenic told the news conference, no progress regarding the price offer has been made in the negotiations between the two state funds and Novartis.

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