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Market watchdog clears Linamar offer for shares of Hungarian unit

Hungarian financial market regulator PSZÁF approved a voluntary offer for outstanding shares of Linamar Hungary by its majority owner Linamar Corporation of Canada on May 11, Linamar Hungary said on Thursday.

Linamar Corporation submitted the bid, at HUF 2,570 per share, for approval on April 27.

The share closed at HUF 2,379 on Wednesday.

Linamar Corporation holds a direct and indirect 99.47% stake in Linamar Hungary.