 "UltraTech Cement")
Not everyone is happy with UltraTech Cement’s recent deal to acquire B K Birla firm Century Textiles’ cement business in a share-swap deal. The deal, a few minority shareholders suggest, could have been finalised through an open bidding process to arrive at a fair market value.
Top executives from both companies remain confident the deal is at the best valuation and that shareholders will eventually see its true value.
On May 20, UltraTech Cement said it would acquire the cement business of Century Textiles. Under the arrangement, Kumar Mangalam Birla-led UltraTech will merge Century Textiles’ 13.4 million tonnes per annum (mtpa) cement
