Financial Epress 20 June 2010
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“This is because under the current guidelines, the voluntary open offer cannot take the acquirer’s holding beyond 75%, making it difficult for anyone to complete the 100% buyout,” said Jagannadham Thunuguntla, equity head, SMC Capitals. “Several hedge funds, private equity funds must be eagerly awaiting to grab 100% ownership of select Indian companies, which was not possible under the existing guidelines.”
