Valuation Report and Share

sebi: SEBI decided it should be 608.46 based on a valuation report by Haribhakti and Company, according to The Independent. Some retail investors said it should be 1,200 a share. Tenneco, the acquirer of FMG, had given an open offer price of 400 a share. In May, the Securities and Appellate Tribunal SAT had given FMG retail investors and Tenneco three weeks' time to raise their objection with the SEBI. The Tribunal had asked SEBI to decide the matter in four weeks. Two other reports of chartered accountants have derived a fair value of 920 and 1,150 a share, they added. The independent valuation report from a Category 1 merchant banker engaged by a large mutual fund has derived an open offer value of 820 a share for FMG, the sources said. (news.financializer.com). As reported in the news.