• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mumbai, July 31 Matsushita Electric Industrial Co Ltd (MEI), Japan, has proposed to buy 17.25 per cent of the shares held by the public in Panasonic AVC Networks India Co and de-list the company from the BSE. Matsushita currently holds 55 per cent shares in the company.

This proposal has been considered by the board and will be placed for the approval of the shareholders at the forthcoming AGM. MEI is contemplating to acquire the shares tendered at an indicative price of not more than Rs 18 per share, subject to all regulatory and shareholder’ approvals. This price is at a premium of about 37.1 per cent over the average of the high and low of the weekly closing prices of the equity shares of the company on the BSE during the 26-week-period immediately preceding July 30. The stock closed at Rs 15.45, up 1.98 per cent, on the BSE on Tuesday.

More Stories on : Stocks | Consumer Electronics

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Deutsche Asset unveils overseas fund scheme

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line