Luma Holding Limited offered to acquire 33.1% stake in Protektor S.A. (WSE:PRT) for PLN 26.4 million on September 6, 2018. Under the tender offer, Luma Holding Limited will acquire 6.3 million shares of Protektor S.A. at PLN 4.2 per share. As of October 2, 2018, the offer price was increased to PLN 5 per share. Upon completion, Luma Holding Limited will own 66% stake in Protektor S.A. including 32.9% stake held by its unit, Luma Investment S.A. The offer is subject to a minimum tender of 3.3 million shares (17.33% stake) in Protektor S.A. As of September 21, 2018, the management of Protektor S.A announced that that the offer price does not reflect fair value of Protektor S.A. The offer will remain open from September 26, 2018 until October 9, 2018. As of October 2, 2018, the deadline was extended to October 16, 2018.