GlaxoSmithKline’s open offer for Indian arm gets Sebi nod
10 Jan 2013 6:16 AM IST
UK-based GlaxoSmithKline (GSK) has received market regulator Sebi's approval for its over Rs 5,200 crore open offer for Indian subsidiary GlaxoSmithKline Consumer Healthcare. The pharma and consumer products maker had filed its draft offer document with Sebi on 11 December to acquire 31.8 per cent stake in its Indian subsidiary for more than Rs 5,200 crore.
Sebi issued its final observations on the draft offer documents on 4 January as per the latest update by the market regulator. Sebi's observations are necessary for the companies to launch open offers. The offer is scheduled to open from 17 January, according to the announcement made by HSBC on behalf of GSK and is expected to close on 30 January.
Sebi issued its final observations on the draft offer documents on 4 January as per the latest update by the market regulator. Sebi's observations are necessary for the companies to launch open offers. The offer is scheduled to open from 17 January, according to the announcement made by HSBC on behalf of GSK and is expected to close on 30 January.
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