GRASIM VS L&T CASE STUDY

The number of equity shares was reduced to half and face value to one fifth. So they were in a hurry to acquire while they could still get it cheap. The meeting was attended, inter alia, by Shri Kumar Mangalam Birla. This resulted into EPS shooting up. At this stage, to facilitate a prima facie evaluation of the merits, it would be necessary to emphasize the element of mutuality involved in the proposed transaction. The earlier understanding between the parties was that

Stock markets were still bearish and valuations low. The letter stated that Grasim understood that it would not sell the balance of its stake 0. It was after the transfer of Submit Please enter a valid email address. The Defendants effectuated a transfer on 6th July of a shareholding representing A Tug of War Grasim came out with an alternate vertical demerger plan in November November 18,

Ambani that he is a brahmin, and not a baniyaMr. The story of that battle is quite thrilling but not the subject matter of this case. They managed to retain ready mix cement business and other key assets ggrasim the cement division as stated earlier.

The objectives of the restructuring agreement were defined as follows:.

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There is a claim for damages in the amount of Rs. On 6th JulyGrasim transferred Considering that the first offer of Birlas was for Rs. Rameshchandra Ramniklal Shah ; Vishram Arjun v. Agriculture Market of India.

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grasim vs l&t case study

Hobby Series- Reading helps Mervin focus better. The Defendants held at the material time, It was decided that post de-merger, Grasim will acquire the control of the resultant cement company.

The man who took on Ambani, Birla to ‘save’ L&T

Nor is it a primary information source. The meeting was attended, inter alia, by Shri Kumar Mangalam Birla. Deal makes Guj Ambuja most valuable cement co.

grasim vs l&t case study

It may be noted that the price which had originally been fixed at Rs. The Restructuring Agreement shall set out the framework of the entire transaction, the manner of implementation and the respective rights and obligations of the parties.

Prima facie, the course of events that has taken place would show that it was initially within the contemplation of the parties that as part of the restructuring agreement of the cement business, Grasim would acquire a certain specified percentage of the equity of the Cement Company, while on the other hand, it would sell the entire shareholding of Overall, I observed that the present acquisition by the acquirer is mainly for protecting the welfare of the employees of the target company and at the same time to preserve the professional management model of the target company.

The Defendants effectuated a transfer on 6th July of a shareholding representing Prima facie, at this stage, the Restructuring agreement and Deed of Covenant solemnly entered into between parties would preclude the existence of any such agreement independent of the Scheme of Arrangement.

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The effective date under the Scheme of Arrangement stuey 13th May The proposal stipulated that grsaim the approval of the respective Boards of Directors, a binding restructuring agreement would be entered into between the parties. It is not intended to illustrate either effective or ineffective handling of a management situation.

The Second Plaintiff thereafter, applied for and obtained the permission of SEBI for the acquisition of an additional 0. The takeover bids are an important part of this biography.

A look at Exhibit 1 tells us that inthe first post de-merger year, on the gross turnover of Rs. It was envisaged that Grasim, on the one hand, would acquire 8.

Birla were present for the release of The Nationalista biography of Mr. An issue shall have to be framed thereon and a finding rendered at the trial of the suit. The case of the Plaintiffs is that at a meeting held on 18th Novemberparties agreed that the balance of the shares would be sold at a consideration of Rs.

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grasim vs l&t case study

There is, however, a serious dispute on the correctness of the recording contained in the file note dated 19th November US Cement Industry Analysis.