Birla’s Final Offer Price For L&T To Be Cheaper Than Recent Deals

Posted: Tuesday, Jun 17, 2003 at 0000 hrs IST
Updated: Tuesday, Jun 17, 2003 at 0000 hrs IST

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Mumbai, June 16: : The final offer price by the AV Birla Group for Larsen & Toubro’s (L&T) cement business, pegged between $70 and $76 per tonne, will still be lower than the other recent deals in the cement sector in India.

The Larsen & Toubro (L&T) board will meet on Tuesday to formalise the demerger of its 16.5 million tonne cement business. Prior to this, the Grasim board will also meet to give its nod to the final demerger proposal.

FIs Plan Measures To Ward Off Future Takeover Bids

SITANSHU SWAIN

Mumbai, June 16: Financial institutions (FIs) holding over 40 per cent in L&T have decided to build a strong fence around the company to prevent any future takeover bid by corporate predators.
“The takeover bid by the Birlas and some earlier developments have been eye-opening for us and we have...

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