Hitachi Capital Polska Sp. Z o.o. made a tender offer to acquire Prime Car Management S.A. (WSE:PCM) for approximately PLN 140 million on December 28, 2018. As reported, Hitachi Capital Polska offered a price of PLN 12.09 per share for 11.9 million shares of Prime Car Management S.A. As of February 8, 2019, the offer price has been increased to PLN 18.05 per share. As of February 21, 2019, the offer price has been increased to PLN 22.25 per share. Hitachi Capital will go ahead with the purchase if it reaches at least 66% stake in Prime Car Management S.A., but may forgo that condition. Hitachi will seek to squeeze out minority shareholders if it reaches at least 90% stake in Prime Car Management S.A. The transaction is subject to approval from antitrust authorities. The deal is approved by anti-monopoly office of Poland. The subscriptions in the offer will start on January 18, 2019 and last to February 18, 2019. As of January 18, 2019, the tender offer has commenced. As of February 4, 2019, the closing date of the offer was extended to February 22, 2019. Santander Bank Polska S.A. (WSE:SPL) acted as an financial advisor and intermediary broker to Hitachi Capital Polska Sp. Z o.o.