BASF hikes open offer price to shareholders

July 17th, 2008 - 6:06 pm ICT by IANS  


New Delhi, July 17 (IANS) The Indian arm of German chemicals major BASF Thursday said it was increasing its open offer price to shareholders for acquiring 22.31 percent stake in the company. The offer price stands revised to Rs.300 from Rs.274 per equity share. The company had announced May 15 a voluntary offer to public shareholders for acquiring up to 6,289,591 fully paid-up equity shares, constituting 22.31 percent of its voting capital.

BASF India’s principal stakeholder said it would pay the revised offer price for all the equity shares validly tendered and accepted any time during the offer period.

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