Vedanta Resources announced a better offer on July 22 for the proposed merger deal of its Indian-listed subsidiary, Vedanta Limited with Cairn India.
According to Vedanta’s press release, the group will now offer one equity share and four redeemable preference shares of Vedanta Limited for each share in Cairn.
If the deal goes through, it would benefit Vedanta as it would get access to Cairn India’s cash stock pile which stands at more than $3 billion.
The deal is now subject to investor approval in both Cairn India and Vedanta Limited. Among the investors is the Life Insurance Corporation of India (LIC), a state-owned insurance and investment company, which owns about 10% in Cairn India.
Full Content: International Business Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
DOJ and FTC Introduce Website for Reporting Anti-Competitive Healthcare Practices
Apr 18, 2024 by
CPI
US Congress Advances Legislation to Compel TikTok Sale
Apr 18, 2024 by
CPI
UK Financial Sector Advocates Enhanced Regulatory Accountability
Apr 18, 2024 by
CPI
Google and All 50 States Defend $700 Million Consumer Settlement
Apr 18, 2024 by
CPI
Colorado Enacts First Law to Protect Consumer Brainwave Data
Apr 18, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI