Cairn India Ltd (CAIL.NS)
22 Jul 2016
MUMBAI Vedanta Ltd has offered to sweeten the terms for taking over subsidiary Cairn India Ltd after an initial bid had been stymied for a year.
MUMBAI India's Vedanta Ltd has offered to sweeten the terms for taking over subsidiary Cairn India Ltd after an initial bid had been stymied for a year.
* Offers 1 share and 4 redeemable shares for each Cairn share
* Chairman says we are committed to completing Cairn-Vedanta merger by end of this fiscal year
** Private sector crude oil producer Cairn India Ltd down as much as 3.3 pct to a near one-month low
- Note: Reuters has not verified this story and does not vouch for its accuracy
** "We believe that the current share price does not offer any meaningful upside to our target price," HSBC says
** Shares of Cairn India rise as much as 4.5 pct to reach 142.90 rupees, their highest price since Jan. 4
** Natural resources company Vedanta Ltd falls as much as 3.97 pct
MUMBAI Indian resources group Vedanta Ltd posted a 99 percent plunge in third-quarter profit on Thursday due to lower global commodity prices, although it beat analysts' forecasts for a net loss.