Novartis AG has offered Novartis India’s shareholders Rs 99 more per share to make its open offer more attractive. The promoter holding in Novartis will increase to 89.93%, if the offer succeeds, just below the 90% cap on promoter holding in a listed company. The current share price is Rs 444 and it remains to be seen how many shareholders tender, even at the revised price of Rs 450. The price had touched a high of Rs 467 indicating investors were expecting the revised price to be higher. Continue Reading →
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