Comments
Pennar Industries Ltd is in negotiations to acquire Bailey Hydropower, a Chennai-based hydraulic products and systems manufacturer.
Deal size
According to sources close to the development, the negotiations between the Hyderabad-based company and the target company are at advanced stage.
The deal is estimated at over Rs 50 crore and is expected to be concluded in a couple of days.
New segment
Pennar Industries is into iron and steel products and this will enable it to enter into a new segment.
The deal is likely to be in the form of a cash-cum-share swap mode, sources said.
The company shares closed at Rs 22.70, up 1.34 per cent on the BSE.
>rishikumar.vundi@thehindu.co.in
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.