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India: Cairn to merge into Vedanta

 |  June 16, 2015

The controversial merger of mining and oil company Vedanta Resources and Cairn India, the oil explorer was approved yesterday, following a meeting of the two company’s boards.

Vedanta has offered one of its own shares for each share held by minority shareholders in Cairn.

Metal and mining giant Vedanta Ltd and its subsidiary oil explorer Cairn India will merge in an all share swap deal, giving the parent access to Cairn’s $2.7 billion.

Full content: The Economic Times

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