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New Delhi, April 5

American automotive giant Federal-Mogul Corporation, on March 30, withdrew its notice filed on March 23 with the NSE and BSE regarding its proposed acquisition of 62.3 lakh equity shares of the Rs 465-crore Goetze India Ltd (GIL) from Mr Anil Nanda. While, according to the agreement, the proposed acquisition had to be completed by March 31, a brokered transaction could not be completed by that date, a Federal-Mogul statement said. "Federal-Mogul believes the offer was fair considering the performance and financial structure of GIL. Federal-Mogul is not considering a revision of its offer and is currently reassessing its strategy with respect to GIL in India," the statement said.

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