Budopol-Wroclaw SA (WSE:BDL) signed a conditional agreement to acquire Intakus Spolka Akcyjna (WSE:ITK) from Marek Boryczka, Iwona Ludkowska, Piotr Ludkowski, Gant Development S.A. (WSE:GNT), and other shareholders for PLN 3.3 million in shares on March 20, 2012. Budopol-Wroclaw SA will acquire Intakus Spolka Akcyjna at an exchange ratio of three shares of Intakus Spolka Akcyjna for one share of Budopol-Wroclaw SA. Budopol-Wroclaw SA's board approved the transaction on March 20, 2012. The transaction is conditional upon debt restructuring by Intakus Spolka Akcyjna by September 30, 2012, conclusion of an agreement with the creditors of Intakus Spolka Akcyjna for providing debt restructuring, change of structure of assets by Intakus Spolka Akcyjna and maintaining the assumed level and structure of assets. The transaction is also conditional upon a positive result of due diligence of Intakus Spolka Akcyjna to be conducted by April 20, 2012, shareholders of Budopol-Wroclaw SA and Intakus Spolka Akcyjna passing a resolution at a general meeting. In addition, Budopol-Wroclaw SA and Intakus Spolka Akcyjna are required to conclude an annex by April 10, 2012. The transaction will terminate if Intakus Spolka Akcyjna fails to restructure its debt based on the terms and conditions set out in annex, Intakus Spolka Akcyjna fails to change its asset structure by the date specified in agreement, if both Budopol-Wroclaw SA and Intakus Spolka Akcyjna fail to conclude the annex to the agreement. If the merger is not concluded then neither of Budopol-Wroclaw SA and Intakus Spolka Akcyjna is entitled to claim any damage. The transaction is expected to close by December 31, 2012. As on April 5, 2012, shareholders of Gant Development S.A. concluded the agreement with the shareholders of Intakus Spolka Akcyjna. As on April 6, 2012, Intakus Spolka Akcyjna filed for bankruptcy. As on April 10, 2012, both Budopol-Wroclaw SA and Intakus Spolka Akcyjna signed an annex to the agreement. Budopol-Wroclaw SA (WSE:BDL) cancelled the acquisition of Intakus Spolka Akcyjna (WSE:ITK) from Marek Boryczka, Iwona Ludkowska, Piotr Ludkowski, Gant Development S.A. (WSE:GNT), and other shareholders on April 30, 2012. The type and the timing of the transfer of the assets for debt restructuring and the conditions of the merger were expired.