M&M open offer for Punjab Tractors at Rs 360/shr

Mahindra & Mahindra (M&M) has proposed an open offer to the existing shareholders of Punjab Tractors to buy up to 20% equity capital of the company, i.e 1, 21,51,140 shares, at Rs 360 per share.

According to a release issued by M&M to the BSEE today, the specified date for the offer is March 12, 2007. The offer will open on May 3, 2007 and close on May 22, 2007.

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