What to watch. Revised deal to keep Cairn on radar

The boards of Vedanta and Cairn India on Friday approved revised terms for the merger of the latter with the former. Accordingly, apart from getting one equity share in the merged entity, Cairn’s minority shareholders will get four redeemable preference shares carrying a rate of 7.5 per cent and tenure of 18 months. Cairn shareholders will also get an implied premium of 20 per cent to the one-month volume weighted average share price.