×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

Goodyear up most in 17 years after buyout offer

Goodyear up most in 17 years after buyout offer
Comment E-mail Print Share
First Published: Tue, Feb 09 2010. 10 26 PM IST
Updated: Tue, Feb 09 2010. 10 26 PM IST
Mumbai: Goodyear India Ltd, a unit of the world’s third largest tyre maker, climbed the most in more than 17 years in Mumbai after the parent offered to buy the shares it doesn’t already own in the Indian company.
Goodyear Tire and Rubber Co., which owns 74% of the subsidiary, will pay Rs245 apiece to buy the remaining shares and delist them from the Bombay Stock Exchange, the Indian company said in a statement on Tuesday. The price is 33% higher than the stock’s closing level on 5 February.
The shares rose by their maximum daily limit of 20%, the most since August 1992, to Rs223.5 as trading opened.
Comment E-mail Print Share
First Published: Tue, Feb 09 2010. 10 26 PM IST