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May 13, 2011, 04.40 PM IST

RPM International to make open offer for 22.3% in Kemrock

RPM International to make open offer for 22.3 pct in Kemrock

Source: Reuters
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RPM International to make open offer for 22.3% in Kemrock
The US-based specialty chemicals group RPM International Inc will make an open offer for India's Kemrock Industries to buy 22.289% equity, or 3.7 million shares, at Rs 539 per share, the banker to the offer said on Friday.


RPM International, which holds 14.996% in the fibre reinforced composite materials maker, will spend up to Rs 167.72 million for the additional stake, Kotak Investment Banking said in an exchange filing.


The offer will open on July 7 and close on July 26.


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Tags: RPM International Inc , Kemrock Industries, Kotak Investment Banking
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