Vedanta Lifts Hindustan Zinc, Balco Bid, Offers $3.93 Billion
This article is for subscribers only.
Vedanta Resources Plc., controlled by billionaire Anil Agarwal, will raise its offer to increase its stakes in Hindustan Zinc Ltd. and Bharat Aluminium Co., seeking control of bauxite mines and India’s biggest zinc maker.
The company will ask for shareholder approval on Aug. 28 to offer as much as 15 percent more for Hindustan Zinc, it said in a note to investors. The offer price for Bharat Aluminium will be raised as much as 63 percent to $550 million.