Acron Again Extends Offer for Azoty Tarnów; Management Rejects Proposal

The Acron Group (Velikiy Novgorod, Russia) today announced that it is extending its tender offer to buy a majority stake in ZakÅ‚ady Azotowe w Tarnowie-MoÅ›cicach S.A. from July 13, 2012, to July 16, 2012,or two days after Azoty Tarnów's extraordinary shareholders meeting scheduled for July 14. Acron made a bid through its Norica Holding subsidiary to buy up to a 66% share in the Polish producer at Zl36 ($10.77)/share.   Tarnów's management is opposing the proposed acquisition.  Last month the board of Azoty Tarnów said...

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