Given that both the buyer and seller are publicly traded, this is exactly how it should be – ie, the stock exchanges should be the first to hear about the deal. Contrast this with the number of times another transaction involving a listed company – the buyout of hydel assets of Jaypee Group’s by Abu Dhabi’s Taqa – got reported in the media before the official deal announcement. So much so, when the deal was officially announced it was news to nobody. Such leaking seems endemic among most infrastructure sector company transactions. The Sun-Ranbaxy deal has clearly shown the even mega transactions can be kept quiet until closure. Hope the infra companies learn how.
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