Australia's Ansell increases offer for Poland's Unimil to 42.2 mln usd

Ansell Ltd, the world's largest manufacturer of protective gloves and a leading condom maker, said it has raised its offer for Polish company Unimil SA by around 11 pct to 42.2 mln usd.

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

Ansell chief executive Doug Tough said the revised offer should be viewed favourably by Unimil's

institutional and private shareholders following his company's initial bid made in July.

Ansell had offered a bid mid-August for Unimil, which it withdrew later, after the offer failed to reach the 80 pct acceptance condition.

Tough said the revised Unimil offer will remain open for 30 days.

He added that the acquisition, when it goes through, is expected to be earnings per share neutral in the fiscal year to June.

Source:forbes.com