Cairn and Vedanta will merge soon, says a Vedanta Board Meeting note, where Cairn shareholders will get: One share of Vedanta for a share of Cairn A preference share of Vedanta worth Rs. 10 for every share owned, which pays 7.5% dividend per year and pays it out at the end of each financial year. And that’s pretty much it. When? Sit back and relax. Sometime in the March 2016 quarter. That is approximately the time of the next Greece drama, so I would not suggest immediate outrage. Though honestly I am a terrible person to be in the media business because there is no such thing as premature outrage in the media business. But we couldn’t resist. So although the timelines are way out, the contours of the deal’s currently proposed structure is known. Not So Great for Cairn Shareholders There’s two reasons why Cairn shareholders will not be rejoicing.… (Read On…)
[via Capital MindCapital Mind]
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