The Hindu Business Line
Wabco’s open offer at ₹6,318/share
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.