Czech drugmaker Zentiva NV stock price jumped 4.5 per cent in Prague trading after Holland-based private equity company PPF Group NV offered to buy a stake in the company. At the current market price the company's valuation is close to US $2.26 billion. Sanofi-Aventis SA also holds a stake in the generic medicines maker.

PPF had announced its offer at 950 koruna per share on May 2. PPF already owns 20% stake in Zentiva NV. If the company is able to acquire more stake, it will be able to gain management control as well. The stock price has fallen 35% last year as the margins were lower.

Technical analysts at Citigroup Inc. have upgraded their rating for Zentiva NV from “sell” to “hold”. The company board will meet shortly to discuss the bid. Merrill Lynch International has been appointed as adviser to the company.