The Warsaw Voice » Business » News - July 2, 2014
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Famur machinery gives up on taking over rival Kopex
Mining machinery producer Famur decided to give up on its plans to take over rival Kopex and will implement its strategy without Kopex, the company said in a market filing.

Hence Famur will not exercise an option to buy 10% in Kopex from Famur's parent TDJ, the company said.

Famur proposed to buy Kopex in a for-equity deal, offering 2 own shares for one Kopex share, but the deal, although praised by market analysts, was rejected by Kopex majority shareholder Krzysztof Jedrzejewski.