Deutsche Post Eyes Blue Dart, Open Offer Likely
Mumbai, July 8: Even after the multi-billion dollar acquisitions of DHL Worldwide and Dansas, the German postal group Deutsche Post World Net seems to be hungry for more. It has been gathered that the company now intends to make an entry into the Indian domestic express business by making an open offer for Blue Dart Express.
While the stake percentage to be bid for could not be ascertained, sources have it that the open offer may be around Rs 120. Blue Dart shares currently trade at Rs 78-83 on The Stock Exchange, Mumbai (BSE), with a 52-week low and high of Rs 52 and Rs 89 respectively. The company, sources said, has already appointed a merchant banker to work out the modalities of the open offer
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