The Hindu Business Line

Wabco’s open offer at ₹6,318/share

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JP Morgan India, on behalf of ZF Friedrichs­hafen AG, has announced an open offer to acquire up to 47.41 lakh shares of Wabco India, representi­ng 25 per cent of the total voting equity capital of the company. The open offer is made at a price of ₹6,318 a share, aggregatin­g to a total of ₹2,995.93 crore. The open offer was necessitat­ed after ZF Friedrichs­hafen on March 28 entered into an agreement with Wabco Holdings Inc, a Delaware Corporatio­n, to merge itself. Pursuant to this, the acquirer will indirectly acquire 100 per cent of the outstandin­g shares of Wabco US. On Wednesday, the shares of Wabco India tumbled 4.99 per cent at ₹6,399 on the BSE.

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