Financial Daily from THE HINDU group of publications
Sunday, Apr 14, 2002
Financial Daily from THE HINDU group of publications Sunday, Apr 14, 2002 |
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Open Offers Corporate - Mergers & Acquisitions Markets - Open Offers Ciba Specialty makes open offer Our Bureau
MUMBAI, April.13 SWISS Chemicals major Ciba Specialty Chemicals Holdings Inc is making an open offer to the minority shareholders in order to hike its stake in the Indian subsidiary to 100 per cent. In a notification to the stock exchanges, the company said that the open offer is being made at Rs 110 per share. The offer will open on May 30 and close on June 28. The specified date is May 10. DSP Merrill Lynch is the lead manager to the offer. The parent company currently holds 51 per cent in the Indian arm. WIth the open offer, the company would be delisted from the stock exchanges.
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