The Telegraph
Since 1st March, 1999
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Yokogawa open offer at Rs 67 a share

Mumbai, March 31: Yokogawa Electric Corporation of Japan today announced its plans to come with an open offer to acquire 31.45 per cent public shareholding of Yokogawa Blue Star at a price of Rs 67 per share.

In a communication issued to the stock exchanges today, Master Capital Services Ltd informed that while the acquirer has announced its intention to shortly make an offer to acquire in cash up to 27,51,176 equity shares of the target company (entire balance outstanding shares with the public, representing 31.45 per cent of the issued paid up equity share capital and voting capital) from the shareholders at a price of Rs 67 for each fully paid share.

Yokogawa had entered into a share purchase agreement with the Indian promoters Blue Star Ltd, for acquiring their entire holding that represented 28.55 per cent of the paid up equity capital for a consideration of Rs 67 per share payable in cash, aggregating Rs 16.74 crore.

At present, Yokogawa holds 40 per cent of the paid up capital of the company.

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