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Jan 03, 2013, 06.58 PM | Source: Moneycontrol.com

Schneider Electric open offer updates

There is no revision in Schneider Electric Infrastructure open offer price. A committee of Idependent directors (IDC) of the target company have based on the independent advice received from Grant Thomton, opined that the offer price of Rs 83.10.

DSP Merrill Lynch Ltd ("Manager to the Offer") on behalf of the Schneider Electric Singapore Pte Ltd ("Acquirer") and Schneider Electric South East Asia (HQ) Pte Ltd, Schneider Electric Services International and Energy Grid Automation Transformers and Switchgears India Ltd, in their capacity as persons acting in concert with the Acquirer ("PACs"), has informed this Announcement to the Shareholders of Schneider Electric Infrastructure Ltd ("Target Company"), pursuant to Regulation 18(7) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto ("SEBI (SAST) Regulations") in respect of the open offer ("Offer") to acquire up to 6,21,67,050 (six crores, twenty one lakhs, sixty seven thousand and fifty) fully paid-up equity shares of face value of Rs. 2 each ("Equity Share") of the Target Company. The detailed public statement ("DPS") with respect to this Offer was published on September 25, 2012 & a corrignedum to the DPS was published on November 09, 2012.Source : BSE

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