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The open offer by West Coast Paper Mills to the shareholders of International Paper APPM opens on Thursday. It plans to acquire 99.42 lakh shares, representing 25 per cent stake in International Paper, at ₹450.63 a share. Earlier in May, an agreement had been entered into among them to acquire a minimum of 2.03 crore shares (51 per cent) or a maximum of 2.39 crore shares (60 per cent) of the target firm depending upon the shares tendered and accepted in the open offer.
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