Open offers highest since 2008 as acquisition, takeover attempts surge

Most open offers are for a minimum of an additional stake of 26 per cent and allow public shareholders an exit after the acquisition

Open offers this calendar year, following attempts at acquisition and takeover, came in at more than two a week. 

There were 121 such open offers to acquire additional shares following a substantial acquisition or change of control, shows the data compiled by primedatabase.com. 

This is the highest in 17 years and the second-highest since 1997 (the data is available since that year). The previous high was in 2008, which saw 133 open offers. 

In terms of value, the offer — of ₹41,443.95 crore this year — is the third-highest on record, with 2013 (₹47,473.77 crore) and 2022