MUMBAI: Anil Agarwal-led Vedanta Resources Plc on Friday made an open offer to the shareholders of India's biggest private iron ore exporter Sesa Goa for acquiring 20 per cent stake in the company for up to Rs 1,603.05 crore.
The open offer was made after the recent announcement by Vedanta for acquiring Japanese firm Mitsui & Co's 51 per cent stake in Sesa Goa for $981 million (around Rs 4,070 crore) in cash.
The company has made an open offer to acquire up to 78,72,404 equity shares representing 20 per cent stake in the equity share of the Sesa Goa at a price of Rs 2,036.30 per share payable in cash, Sesa Goa said in a filing to the Bombay Stock Exchange.
Vedanta Resources clinched the deal from bidders like Arcelor-Mittal and the Aditya Birla Group, who were also in the fray to acquire 51 per cent stake in India's biggest private iron ore exporter Sesa Goa Ltd.
Read more at Economic Times
