The Damanis-controlled Bright Star Investments Ltd today approached shareholders of VST Industries Ltd, offering to buy their shares at Rs 118 each, at a premium of Rs 3 over the price offered by Russell Credit, the investment subsidiary of ITC Ltd.
The offer will open on May 15 and close on June 13, 2001. Both offers will close simultaneously on June 13 under the existing regulations.
Russell Credit
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