Jeil Pharma Holdings Inc (KOSE:A002620) made an offer to acquire an additional 47.6% stake in Jeil Pharmaceutical Co.,Ltd (KOSE:A271980) for approximately KRW 490 billion on October 2, 2018. Jeil Pharma Holdings will acquire additional 7 million shares of Jeil Pharmaceutical Co and will issue 2.2494363 Jeil Pharma Holdings Inc shares for each share of Jeil Pharmaceutical Co.,Lt which equates to an offer per share of KRW 53874. Jeil Pharma Holdings will issue 15.7 million shares of Jeil Pharmaceutical.

Board of Jeil Pharma Holdings passed a resolution for the transaction on October 2, 2018. Tender offer period is from October 26, 2018 to November 15, 2018.