ACC board approves merger with Ambuja Cements, share swap ratio 328:100 announced
ACC · price
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On the reaction day the stock moved 1.5 pts less than Nifty Midcap 150 and 1.6 pts less than its Cement & Cement Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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ACC Limited board has approved amalgamation with parent Ambuja Cements, both Adani group cement firms. Share swap: 328 Ambuja shares (Rs 2 FV) for every 100 ACC shares (Rs 10 FV). No cash deal. ACC ceases to be a separate listed entity; Ambuja, which already holds 50.05% of ACC, is the surviving company. Subject to stock exchange NOC and NCLT approval. Rationale: manufacturing synergies, cost efficiencies, unified structure. Independent valuers and fairness opinion obtained.
ACC shareholders other than Ambuja get 3.28 Ambuja shares per ACC share. ACC to delist post-merger; deal awaits NCLT and SEBI approvals.