08 Dec 07 Tata Sons Open Offer Date for Tata Investment revised

Tata Sons has revised the open offer date for Tata Investment Corp Limited. The revised Tata InvestmentÃ‚Â Open Offer opening date is Wednesday, December 12, 2007. The open offer made by tata sons is to acquire an additional stake of about 28.5% in Tata Investment Corp. Tata Sons open offer price has been fixed at Rs. 600 per share. The open offer is inattractive to the shareholders of Tata Investment corp since the open offer price fixed by Tata Sons is about 12% lower than the current market price of Tata Investment orp. Hence investors will make more money by selling their stake in the open market through the stock exchanges rather than surrendering the shares by participating in the Tata Sons Open Offer. The opinion in the market is that Tata Sons is likely to increase the open offer price to close to Rs. 650 taking into account the current trading price of Tata Investment Corp Limited.

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