CLOVERDALE, CA, July 27, 2017-

Pegas Nonwovens’ second biggest shareholder announced last week it would offer 1,010 Czech crowns (€38.70) a share in a bid to take over the spunmelter. The Reuters news service quoted R2G Rohan S.à r.l. as saying Pegas should begin accumulating cash in order to make acquisitions in its sector.

Pegas management acknowledged it had seen the announcement and said its board will meet “shortly” to discuss the issue, urging shareholders to do nothing in the interim. Meanwhile, the biggest Pegas shareholder reportedly said it is a believer in the company and it is not thinking about selling its stake.

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