Ansell makes second bid to buy Polish condom maker

Melbourne, Australia. - Ansell Ltd. has increased its offer to purchase the shares of Polish condom maker Unimil SA to about €31.8 million

The bid is Ansell´s second in a five-month span. In mid-July, the surgical rubber latex glove and condom manufacturer made a tender offer to buy Unimil for about €28 million.

That bid was not accepted by 80 percent of Unimil´s stockholders, a requirement of the proposed deal. The new offer has the same 80 percent acceptance stipulation.

Ansell officials believe that by boosting the bid price 11 percent, the offer "will be viewed favorably by Unimil´s institutional and private shareholders," CEO Doug Tough said. He said the Unimil purchase would give Ansell "leading brands, strong market leadership and good people."

It also would give the Australian company a greater presence and more flexibility in eastern Europe, he said.

In July, Ansell said it wanted the Krakow-based firm, which has a 65-percent share of the Polish market and 11 percent of the market in Germany, to give it production and packaging capacity in an area where it didn't have a large presence.

Ansell, which is based in Melbourne, Australia, as well as Red Bank, has been looking for companies that could fit into its structure for more than a year.

Ansell purchased a 75-percent interest in Wuhan Jissbon Sanitary Products Co. Ltd, a condom supplier in Wuhan, China, for about $18 million in March and holds an option to acquire the remaining 25 percent of the business.

From Rubber & Plastics News (A Crain publication)

Website of Ansell condom business