Fem Care, which is set to amalgamate with FMCG major Dabur, is currently available at a discount of 2.75%. Few days back, the discount was as high as 7% due to a run-up in the stock price of Dabur India.
Based on the “Scheme of Amalgamation” following the acquisition of Fem Care by Dabur in 2008, Dabur India is to allot 5 Equity Shares of face value Rs. 1 each, for every 1 Equity Share of the face value of Rs. 10 held by the shareholders of Fem Care Pharma.
Fem Care Pharma Ltd. and Dabur India Ltd. closed at Rs. 875/- and Rs. 180/- respectively, on May 7 2010.
(Dabur had acquired close to 72% shares of Fem Care for Rs 203 crore. In Nov 2008, Dabur made the mandatory open offer to acquire additional 20% stake in Fem Care @ Rs. 800 per share. As a result Dabur owns 92% shares of the latter now.)
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