Business Daily from THE HINDU group of publications
Friday, Aug 31, 2007
ePaper
Business Daily from THE HINDU group of publications Friday, Aug 31, 2007 ePaper |
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Markets
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Open Offers Corporate - Mergers & Acquisitions
Our Bureau Mumbai, Aug 30 The shareholders of Panasonic AVC Networks India Ltd have approved the proposal of Matsushita Electric Industrial Co Ltd (MEI) to acquire up to 17.26 per cent of the shares held by the public and consequently delist the company from all the stock exchanges, the company told the BSE. MEI has said that it is contemplating acquiring the shares tendered at an indicative price of Rs 18 per share. This price is at a premium of about 28 per cent over the average of the high and low of the weekly closing price of the equity shares of the company on the BSE during the 26-week period immediately preceding August 29.
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