Federal-Mogul Goetze (India) Limited. — Important, 23-12-2024: General Updates

Federal-Mogul Goetze (India) Limited reports that the Securities Appellate Tribunal has ruled in favor of Pegasus Holdings III, LLC regarding the ongoing open offer for acquisition. The Tribunal determined that SEBI's prior decision to appoint an independent Chartered Accountant to value the company's shares was not warranted since the shares are frequently traded and their value could be established based on their 60-day volume weighted average market price of INR 236. Pegasus had proposed a higher offer price of INR 275 per share. The Tribunal’s decision allows Pegasus to proceed with their offer, presenting a positive outlook for the acquisition process and potentially benefiting shareholders. Investors should monitor the situation closely as it unfolds.