France's Servier has made an offer to buy the remainder of Hungarian drukmaker Egis it does not already own in a deal worth around $483 million.

Servier has held a 51% stake in Egis since 1995 and is now offering 28,000 forints ($130) per share, a 33% premium to the latter's closing price on September 23. It says it does not intend to make "any significant changes to the strategy or operations of Egis, which is already well integrated" into Servier’s operational structure

Jacques Servier, the company's president and founder, noted that Egis is on the Budapest Stock Exchange bourse but because it "has no need to use the equity capital market for financing", being listed "makes little financial sense". Servier noted that the offer is "final and will not be revised". Shareholders will have at least 30 days after the offer is approved by the Hungarian Financial Supervisory Authority to accept