Open offer to Timex shareholders

Timex Group Luxury Watches BV, together with BP Horological Investors, LLC, BP Horological Holdings, LLC and Tanager Group BV, has made a mandatory open offer to shareholders of Timex Group India Ltd to acquire 2.53 crore shares, representing 25.07 per cent of the voting share capital, at ₹24.26 a share. Assuming full acceptance of the offer, the aggregate consideration payable to the public shareholders will be up ₹61.39 crore, the company said in a statement to stock exchanges. Shares of Timex group jumped 4.95 per cent to ₹26.50 on the BSE.