The Hindu : ITW USA's open offer to buy stake in

Online edition of India's National Newspaper
Wednesday, August 08, 2001

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Business \| Previous \| Next ITW USA's open offer to buy stake in ITW Signode India NEW DELHI, AUG. 7. ITW USA today announced a public offer to buy the 49 per cent public shareholding in its Indian arm, ITW Signode India and convert it into a wholly-owned subsidiary. ITW USA which currently holds 51 per cent stake in ITW Signode would also delist ITW Signode, if the public stake in the company falls to 10 per cent or below. The offer is to purchase 11.21 million shares representing 49 per cent of the share capital of ITW Signode. It is conditional to the extent that ITW USA has the right but not the obligation to purchase the shares in case the number of shares tendered under the offer are less than 6.63 lakhs or 29 per cent of the share capital. Send this article to Friends by E-Mail
Section : Business Previous : MFs selling hits sentiment on BSE Next : Bayer arm buys out Bayer Sanmar
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Copyrights © 2001 The Hindu Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu

Front Page \| National \| Southern States \| Other States \| International \| Opinion \| Business \| Sport \| Miscellaneous \| Classifieds \| Employment \| Index \| Home

Business \| Previous \| Next ITW USA's open offer to buy stake in ITW Signode India NEW DELHI, AUG. 7. ITW USA today announced a public offer to buy the 49 per cent public shareholding in its Indian arm, ITW Signode India and convert it into a wholly-owned subsidiary. ITW USA which currently holds 51 per cent stake in ITW Signode would also delist ITW Signode, if the public stake in the company falls to 10 per cent or below. The offer is to purchase 11.21 million shares representing 49 per cent of the share capital of ITW Signode. It is conditional to the extent that ITW USA has the right but not the obligation to purchase the shares in case the number of shares tendered under the offer are less than 6.63 lakhs or 29 per cent of the share capital. Send this article to Friends by E-Mail
Section : Business Previous : MFs selling hits sentiment on BSE Next : Bayer arm buys out Bayer Sanmar
Front Page \| National \| Southern States \| Other States \| International \| Opinion \| Business \| Sport \| Miscellaneous \| Classifieds \| Employment \| Index \| Home
Copyrights © 2001 The Hindu Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu