Balmer Lawrie VanLeer Open Offer price fixed at Rs 70

Balmer Lawrie VanLeer stock moved up smartly today on the open offer price news from Grief International Holding B.V. The company will buy 19.76 per cent stake in the Indian Company and has sought approval for delisting the stock from the exchanges. The Exit Price is determined as Rs. 70 per share through the Reverse Book Building Process as per the Guidelines The shareholders of Balmer Lawrie VanLeer can tender their shares at the Exit Price during the period commencing from December 28, 2007 and ending on January 11, 2008.