Like Hindalco, many Aditya Birla minority shareholders were waiting for formal approval from the Reserve Bank of India before accepting the MLX takeover offer in the last week of July.
Would anybody therefore know if the Aditya Birla shareholders who accepted the Metals X takeover offer before the takeover offer closing date, but were allotted MLX shares only after the rights offer cutoff date, would still be entitled to the rights issue? Or does allotment of MLX shares automatically occur on the date or receipt of acceptance of the takeover offer?
Otherwise it would be very unfair if those former ABY shareholders were to miss out on the rights afforded to virtually every other MLX shareholder.
MLX Price at posting:
$1.73 Sentiment: Hold Disclosure: Held
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