Novartis Increases Its Offer Price On Novartis India Ltd.
By admin - Posted on May 28th, 2009
Tagged: Asia
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This release is neither an offer to purchase nor a solicitation of an offer to sell shares of Novartis India Ltd.
May 28, 2009 -- Basel, Switzerland, May 28, 2009 - Novartis announced today an increase in the offer price for Novartis India Ltd. to Rs 450 per share, from Rs 351 initially proposed.
The revised offer represents a premium of 63% to the closing share price of Rs 275.6 of Novartis India Ltd. on March 24, which was the last trading day before announcement of the offer.
This proposal represents Novartis' only and final price revision to this offer, as May 28 is the last day on which the price can be revised.
Source: Novartis
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