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Open offer for Cabot shareholdersat Rs 100 a share
Our Corporate Bureau
Mumbai, March 15 : Cabot UK Holdings Ltd and Cabot Corporation, USA, have made an open offer to the shareholders of Cabot India at Rs 100 per share for 40 per cent of the outstanding equity capital of the domestic arm. The acquirers' offer, being made with the objective of consolidating their holdings in Cabot India Ltd, may also result in delisting of the target company, the company said in a notice to the BSE.The open offer is being made to acquire up to 34,95,360 fully paid up equity shares of Rs 10 each of Cabot India, representing 40 per cent of the outstanding equity share capital of the company. The offer will open on May 8, 2001 and will close on June 6, 2001. Kotak Mahindra Finance Company has been appointed as the managers to the offer. The price for this acquisition has been fixed at Rs 100 per share and is payable in cash. The offer is not subject to any minimum level of acceptances, the notice said. Cabot International Capital Corporation holds 52,43,040 shares in the Cabot India Ltd. Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
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