Auto component major Motherson Sumi Systems could be eyeing the starter motors and generators division of global giant Bosch LLC through a likely USD 600-million bid, a media report said.
Motherson is now the controlling shareholder of PKC Group, holding 93.75 percent of PKC's outstanding shares and stock options.
Group Chairman Vivek Chaand Sehgal said Motherson Sumi recorded highest-ever quarterly revenue and best-ever net profit in Q3FY17. adding, the company looks to garner more from global units. For this, it plans to set up 9 new plants, of which 6 will be based globally, he said.
Motherson Sumi Systems shares gained nearly 4 percent intraday Friday after the board approval for acquisition of Finland based truck wire maker by its subsidiary.
Motherson has offered 23.55 euros per PKC share, representing a 51 percent premium to PKC's closing price on Thursday.