Vedanta Sweetens Deal for Cairn Merger to Sway Shareholders

  • Cairn shareholders to now get 4 preference shares instead of 1
  • Parent to control 50.1% in merged entity from 62.9% now

Vedanta Ltd. sweetened the deal for Cairn India Ltd. shareholders by increasing the number of preference shares four times to salvage a deal which would help create a natural-resources group to compete with BHP Billiton Ltd. and Vale SA.

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