EXEMPTION UNLIKELY

■ Sebi says it is against takeover norms and exemption might affect minority shareholders

■ Etihad may seek formal approval for exemption after the deal

■ The Gulf carrier reportedly approaches the civil aviation ministry to intervene

■ Open offers provide opportunity to minority shareholders to exit at the open-offer price

■ Etihad-Jet deal announcement likely after the Indian airline’s board meets on February 14

■ Naresh Goyal to exit the Jet board post-deal