Reliance MediaWorks has made a counter-bid to acquire Fame
Earlier its major shareholder Shravan Shroff agreed to sell 43% stake at Rs 44 a share to Inox. The promoters had the right to sell their 43% stake to whoever they wished, but the minority shareholders lost out in the process because Reliance MediaWorks itself was ready to offer Rs80 per share.
Theoretically, Inox has control of Fame. But under the Sebi takeover code, a competing bid is possible anytime till the last date specified in the Inox offer. Both the Inox and Reliance MediaWorks offers open on April 1 and close on April 20.
crackcrackCompany Name | CMP |
---|---|
PVR | 1320.55 |
Saregama India | 345.90 |
Eros Internatl.Media | 17.92 |
Shemaroo Entertain. | 141.50 |
Balaji Telefilms | 72.90 |
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