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Arbitrage opportunity in Escorts
Japanese firm Kubota will soon launch an open offer in tractor manufacturer Escorts to acquire 26 per cent stake at Rs2,000 per share. Shares of Escorts were up 10.6 per cent and closed at Rs1,803 on Thursday but are still nearly 10 per cent below the open offer price. Analysts believe there is a good opportunity for retail investors in the counter as they believe there is high probability of their shares getting accepted in the open offer. “The minimum acceptance ratio is 51 per cent and the final acceptance could be 70-75 per cent. Thus with
