Ruias go ahead with 70 pence/share offer for Essar Energy

Billionaire Ruia family stuck to the 70 pence per share it indicated earlier for buying out the minorities in its London-listed Essar Energy Plc, an offer slammed again by the company's independent committee. The committee said the offer from Essar Global Fund Ltd (EGFL) 'materially undervalued' the London-listed resources company. "EGFL, which is ideally placed to assess the value of Essar Energy and its prospects, itself recognised in November 2013 that the company was wort .. Source :   http://economictimes.indiatimes.com/news/news-by-industry/energy/oil-gas/ruias-go-ahead-with-70-pence/share-offer-for-essar-energy/articleshow/32054798.cms