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Shareholders of Mather and Platt Fire Systems can reject the open offer made by the WILO group of Germany, as the pricing is unattractive. At about Rs 30, the stock trades at a substantial premium to the open offer price of Rs 14.69.

The performance parameters of this company are poor. Even when WILO takes control, it may take a long time to engineer a turnaround in the performance.

Against this backdrop, shareholders could use the current buoyancy to cut exposures in the stock. The lead manager for the open offer is SBI Capital Markets; the open offer closes on September 28.

BL Research Bureau

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