Heidelberg revises terms of open offer to Mysore Cements

MUMBAI: German cement and building materials giant Heidelberg Cement AG's subsidiary Cementrum I BV has decided to waive off the conditions for accepting minimum number of shares under the open offer made by it to the shareholders of SK Birla group company Mysore Cements Ltd.

Last month Cementrum and Heidelberg Cement AG (Person Acting in Concert) had made a open offer to the shareholders of Mysore Cements for acquiring 3.50 crore equity shares of the company, representing a 22.15 per cent stake.

In a filing on the Bombay Stock Exchange today Ambit Corporate Finance Pvt Ltd, the Manager of the offer, on behalf of Cementrum and Heidelberg issued a revised public announcement to the shareholders of Mysore Cements declaring the open offer to be unconditional and not subject to any minimal level of acceptance.

Consequently, the acquirer would accept all shares validly tendered in the offer, subject to a maximum of 3.50 crore shares.