PS Holdco sp. z o.o. made an offer to acquire 37.45% stake in Cognor S.A. for PLN 25.4 million on April 25, 2016. As part of transaction, PS Holdco will acquire 26.16 million shares at PLN 0.97 per share. The offer will be open until May 17, 2016. As on May 12, 2016, Cognor management says offer price is does not reflect the fair value. PS Holdco sp. z o.o. completed the acquisition of 3.61% stake in Cognor S.A. on June 21, 2016. PS Holdco acquired 2.5 million shares of Cognor S.A.