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Siemens Healthcare Diagnostics has received approval from the Gujarat High Court for its merger with Siemens Ltd.
“The Hon’ble High Court of Gujarat has sanctioned the Scheme of Amalgamation of the company with Siemens Ltd, Mumbai, on March 1, 2011,” Siemens Healthcare Diagnostics said in a filing to the Bombay Stock Exchange.
The company further added that it had already received similar approval from the Bombay High Court on January 28, 2011.
Siemens Ltd is the Indian arm of Siemens AG, a German infrastructure solutions company, which recently announced an open offer to buy nearly 20 per cent stake in Siemens Ltd at Rs 930 per share, translating into a total cost of Rs 6,200 crore.
“The said amalgamation will be effective only after the certified copies of the orders of both the High Courts are filed with the respective registrar of the companies,” Siemens Healthcare Diagnostics said.
Meanwhile, the company shares were being quoted at Rs 1,651 apiece in the afternoon trade on the BSE today, up 2.99 per cent from the previous close.
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