Sesa Goa gains on buzz of merger with Sterlite Ind

BSE 23 May 12 | 12:00 AM

178.70		-5.75 (-3.12%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: 500295

Face Value: N.A.

NSE 23 May 12 | 12:00 AM

178.00		-5.95 (-3.23%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: SESAGOA

Performance
1 Week	:	Rs	186.20	(-4.03%)
1 Month	:	Rs	182.85	(-2.27%)
1 Year	:	Rs	275.25	(-35.08%)

Sesa Goa gains on buzz of merger with Sterlite Ind

SI Reporter / Mumbai 22 Feb 12 | 10:49 AM

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Sesa Goa is trading higher by 2.4% at Rs 253 on reports of the merger of the company with its group company Sterlite Industries. A shareholder will get two shares of Sterlite Industries for every three shares of Sesa Goa.

“The London-listed Vedanta Resources is giving final touches to a merger of iron ore firm Sesa Goa with copper and aluminium maker Sterlite Industries, in a share swap ratio of 2:3," the report suggests.

A Delhi-based law firm has been asked to work on legal requirements for the merger, added report.

A combined 2.2 million shares have changed hands on the Sesa Goa counter so far on the NSE and BSE. Sterlite Industries on the other hand is trading lower by 2% at Rs 126.