Great Offshore Limited (GOL), a main player in Indian foreign oilfield services business, was among the largest customers of Bharati Shipyard Limited (BSL), the second-biggest private sector shipbuilding company in India. BSL had got an around 15 per cent position in GOL (by invoking a share pledge) and made a public offer for a further 20 per cent position in GOL. BSL's rival - ABG Shipyard Limited (ABG) - declared a counter offer.
By early August 2009, both ABG and BSL had made additional counter offers and the latest offer price by ABG was 51 per cent higher compared to the first offer made by BSL. BSL had to determine on how much it should go to make the acquisition.SubhashJha is connected with Indian Institute of Management, Udaipur.
PUBLICATION DATE: October 22, 2014 PRODUCT #: W14523-PDF-ENG
This is just an excerpt. This case is about FINANCE & ACCOUNTING
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