According to the notice published in Thursday's edition of daily Delo, the takeover bid is valid until noon on 9 May. No success threshold has been set.

The Gores Group, a Los Angeles-based investment firm, and Technology4Medicine, a US company specialising in medical lasers, bought a EUR 70.48% stake in Fotona at an auction in late January from the state-run PDP firm.

The offer for 463,570 shares was set at EUR 27.40 per share to be paid immediately plus an extra 76 cents per share in suspended payment, which together nets EUR 13m for the stake.

The buyer also acquired 68,405 shares or 10.40% stake in Fotona from electronic components maker Iskra, but at a lower price than what it is offering per share in the present takeover bid.

After coatings maker Helios, Fotona was the second company on the government's priority list for privatisation to be sold.