There are reports of Cairn India merging with Vedanta.
Stock of Cairn India fell by close to 4%. It was quoting at 173.
Vedanta has a debt of 75K crore (approx)
Cairn India has reserves of 56K crore (approx)
The merger gives Vedanta access to Cairn India's cash which could be used to reduce their debt and hence the crash in market price of Cairn.
Await more details for the swap ratio for the merger.
Stock of Cairn India fell by close to 4%. It was quoting at 173.
Vedanta has a debt of 75K crore (approx)
Cairn India has reserves of 56K crore (approx)
The merger gives Vedanta access to Cairn India's cash which could be used to reduce their debt and hence the crash in market price of Cairn.
Await more details for the swap ratio for the merger.
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