Vedanta revises dates for open offer

MUMBAI: Vedanta Resources has revised the open offer dates to acquire an additional 20 per cent in Sesa Goa. The offer will now open on August 31 and close September 19.

This follows clearance from the Securities & Exchange Board of India. UK-based Vedanta had acquired Mitsui & Co's 51 per cent stake in Sesa Goa for $981 million in April.

However, SEBI mulled over the open offer, priced at Rs 2,036 per share, due to cases pending in the court with regard to an earlier transaction in Sesa Goa. The open offer is being made along with Westglobe, Mauritius, and Richter Holding, Cyprus.