After more than a year since the merger between Vedanta Limited and Cairn India was announced in June 2015, Vedanta has finally revised the deal terms. While Cairn’s minority shareholders would still get one share in the merged entity for every share held, the number of redeemable preference shares (@7.5% coupon, 18 months tenure and face value of INR10) has been increased from one to four. As mentioned in the press release, this revised offer translates into a 20% premium over Cairn In
25 Jul 2016
Revised merger terms; LIC’s vote would be critical
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Revised merger terms; LIC’s vote would be critical
Vedanta Resources (VED:LON) | 0 0 0.1% | Mkt Cap: 2,059m
- Published:
25 Jul 2016 -
Author:
Varun Sikka -
Pages:
3
After more than a year since the merger between Vedanta Limited and Cairn India was announced in June 2015, Vedanta has finally revised the deal terms. While Cairn’s minority shareholders would still get one share in the merged entity for every share held, the number of redeemable preference shares (@7.5% coupon, 18 months tenure and face value of INR10) has been increased from one to four. As mentioned in the press release, this revised offer translates into a 20% premium over Cairn In