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Yatra to review take over proposal of Ebix

Press Trust of India  |  New Delhi 

Online Inc, the parent company of Gurugram-based firm com, said Tuesday it has received a proposal from Inc to acquire all of its outstanding shares and will review the offer.

US-based firm Inc on Monday announced that it had offered to acquire Online Inc for USD 336 million (over Rs 2,345 crore).

"Consistent with its fiduciary duties, and in consultation with its independent legal and financial advisors, the company's Board of Directors will review and consider the proposal to determine the course of action that it believes is in the best interest of the company and all of its shareholders," said in a statement.

Company shareholders do not need to take any action at this time, it added.

"is acting as to the Company and is acting as legal counsel," the statement said.

Inc has sent a letter to the Board of Yatra Online, Inc outlining offer to acquire 100 per cent of the outstanding stock of Yatra Online for USD 7 per share on a debt-free basis, the US based firm had said in a statement.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 12 2019. 19:49 IST