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Takeover Code: Tata Steel's Koushik Chatterjee lauds SEBI

Thursday 28th Jul 2011 140

New Delhi : The Securities and Exchange Board of India (SEBI) board has okayed the Takeover Code. Recommendations of the Takeover Regulations Advisory Committee (TRAC) have, by and large, been accepted. Mandatory open offer size has been raised to 26% from 20% and the trigger point for buyout will now stand at 25% from 15%.

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