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Sebi probing Luxottica
deal
Mumbai:
Italian eyeware giant Luxottica Group SpA's indirect acquisition of a
stake in RayBan Sun Optics India in 1999 is being probed by the Sebi
for a possible breach of the takeover code. RayBan Sun Optics said it
had responded to Sebi's queries and had not heard anything further.
Sebi may take action against Luxottica for failing to make an open
offer to buy a further 20 percent from public shareholders after it
gained a 44 percent stake in RayBan through its 1999 takeover of
Bausch & Lomb of the United States.
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Sebi
to decide on M&A rules
Mumbai: Securities & Exchange Board of India (Sebi) is
likely to take a decision on making mandatory shareholders approval
for mergers and acquisitions.The regulatory body is considering
placing Indian and foreign companies on par as far as mergers and
acquisitions (M&A) are concerned.
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