MP Laboratories and Mylan Laboratories announces open offer for Matrix Laboratories

DSP Merrill Lynch Ltd ("Manager to the Offer") on behalf of MP Laboratories (Mauritius) Ltd ("Acquirer") & Mylan Laboratories Inc (Person Acting in Concert (PAC)) has issued this Public Announcement ("PA") to the shareholders of the Matrix Laboratories Ltd ("Target Company"), pursuant to Regulation 10 & 12 of Securities & Exchange Board of India (Substantial Acquisition of Shares and Takeovers), Regulation, 1997 the ("SEBI [SAST] Regulations" ) as under:

The Offer

The Acquirer along with the PAC, is making an offer to the public shareholders of Target Company, to acquire upto 30,831,962 voting equity share(s) of Rs 2/- each, representing in the aggregate 20% of the fully diluted voting equity capital of the Target Company at a price of Rs 306 per share ("Offer Price") payable in cash and subject to the term and conditions.

Schedule of Activates:

Specified Date: September 22, 2006

Date of Opening of the Offer: October 20, 2006

Date of Closing of the Offer: November 08, 2006

Source : Equity Bulls

Keywords