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Wednesday, Apr 17, 2002

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ITW Signode delisted

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ITW Signode India Ltd, an industrial packaging company, today announced the delisting of its stock from the Mumbai and Hyderabad stock exchanges.

The decision to delist follows the public offer by Illinois Tool Works Inc to buy out the public holding in its Indian subsidiary, ITW Signode India Ltd.

The completion of the offer has enabled ITW Inc to raise its stake from 51 per cent to 95 per cent in ITW Signode India Ltd, according to a company release. The exit option will be open till April 15, 2003. The offer price will be at the same rate of Rs 80 per share.

Karvy Consultants has been retained as Registrars to the exit option.

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