Essar makes offer for Hutch
Dec 27, 2006
Mergers and Acquisitions
The Essar group has made a surprise offer to buy the Hutchison group’s 67% stake in Hutchison-Essar at an estimated enterprise value of $17-18 billion. The offer was made through the group’s advisors, Morgan Stanley and Bear Stearns, who met senior Hutch officials in Hong Kong on Tuesday.
This has now really set the cat among the pigeons.
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