Vedanta CEO says response from Cairn India shareholders to sweetened bid positive
"We have reached out to all shareholders and we have held constructive discussions across the board...We look forward to the vote in the coming weeks," said Vedanta Chief Executive Tom Albanese, speaking in an interview with Reuters on Friday.
- Aug 19, 2016,
- Updated Aug 19, 2016 2:38 PM IST
Vedanta's chief executive said the diversified Indian miner received "constructive feedback" from minority shareholders in Cairn India to a sweetened buyout offer, and was hopeful it can clinch the long-delayed deal.
"We have reached out to all shareholders and we have held constructive discussions across the board...We look forward to the vote in the coming weeks," said Vedanta Chief Executive Tom Albanese, speaking in an interview with Reuters on Friday.
Last month, Vedanta revised the terms of an offer aimed at buying out the minority stake in Cairn India that it does not already own, after an initial offer stalled and a deal remained in limbo for months.
Vedanta's chief executive said the diversified Indian miner received "constructive feedback" from minority shareholders in Cairn India to a sweetened buyout offer, and was hopeful it can clinch the long-delayed deal.
"We have reached out to all shareholders and we have held constructive discussions across the board...We look forward to the vote in the coming weeks," said Vedanta Chief Executive Tom Albanese, speaking in an interview with Reuters on Friday.
Last month, Vedanta revised the terms of an offer aimed at buying out the minority stake in Cairn India that it does not already own, after an initial offer stalled and a deal remained in limbo for months.