BS reported that Jindal Steel & Power Limited has made a renewed attempt at acquiring Australian coal miner Rocklands Richfields.
As per report, JSPL has increased the price and extended the deadline 10 days before it was to expire, of its open offer to shareholders.
JSPL, on May 26, increased its offer price for the shares to USD 0.3 per share from USD 0.25. The company also extended the deadline for the open offer date from June 6 to June 20.
However, the increased offer price of USD 0.3 per share is below the price at which the shares are traded currently.
Jindal, before the start of the offer, held 14.5% of Rocklands. The company did not divulge whether it managed to get hold of more during the open offer.
Rocklands, meanwhile, has been vehemently trying to ensure its investors do not tender their shares to JSPL’s open offer. The company asked its shareholders to reject the deal in a letter dated April 21 when Jindal made the first offer. (sourced from BS)
As per report, JSPL has increased the price and extended the deadline 10 days before it was to expire, of its open offer to shareholders.
JSPL, on May 26, increased its offer price for the shares to USD 0.3 per share from USD 0.25. The company also extended the deadline for the open offer date from June 6 to June 20.
However, the increased offer price of USD 0.3 per share is below the price at which the shares are traded currently.
Jindal, before the start of the offer, held 14.5% of Rocklands. The company did not divulge whether it managed to get hold of more during the open offer.
Rocklands, meanwhile, has been vehemently trying to ensure its investors do not tender their shares to JSPL’s open offer. The company asked its shareholders to reject the deal in a letter dated April 21 when Jindal made the first offer. (sourced from BS)
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