Gati announces Open Offer to the shareholders of Kausar India

Gati Ltd has announced that the Company ("Gati Ltd") ("Acquirer") is making an offer to the shareholders of Kausar India Ltd ("Target Company") to acquire 815,496 equity shares of Rs 10/- each of the Target Company, representing 22% of the outstanding voting equity share capital of the Target Company as on August 25, 2007, at a price of Rs 72.84 per fully paid up equity share (the "Offer Price") payable in cash in terms of Regulation 20 and 21 of the Regulations (the "Offer" or "Open Offer") of Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997.

The stock was trading at Rs.109.50, up by Rs.0.95 or 0.88%. The stock hit an intraday high of Rs.110 and low of Rs.105. The total traded quantity was 6541 compared to 2 week average of 39236.

Source : Equity Bulls

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