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Wednesday, April 21, 1999
Air Products to acquire more stake in Inox
ENS ECONOMIC BUREAU
MUMBAI, Apr 20: Air Products, the international industrial gases and chemicals company, after successful completion of the open offer made to the public shareholders of Industrial Oxygen Company Ltd (Inox), will make another offer within three months to acquire the outstanding shares as per guidelines. At the same time, it will take the necessary steps to delist the shares from the stock exchanges.Consequent to the first open offer, the public shareholding of Inox has been reduced to approximately three per cent. Rs 375 per share was offered to all Inox shareholders to acquire the 27,64,154 shares. The open offer was made by Prodair Corporation, a wholly owned subsidiary of Air Products. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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