Delayed open offers are the norm

Offer was 
to open

Offer was
to close

Sesa GoaVedantaJune 21July 10 Lumax IndStanley Electric, JapanJuly 4July 23 Deccan AviationUnited BreweriesJuly 07July 25 STI IndiaSpinnaker GlobalJuly 24Aug 13 Mount EverestTata TeaJuly 27Aug 16 K B SteelVipul ModiAug 08Aug 27 Sparsh BPOBlackstoneAug 10Aug 29 Lanco GlobalK V RaoAug 17Sept 05 Chettinad CementMAM RamaswamyAug 17Sept 05 Petron EngKazStroyService PlcAug 14Sept 03 Lanxess ABSINEOS ABSAug 22Sept 10  In most cases, the delays were procedural, said two independent merchant bankers associated with such offers. An acquirer who is supposed to come out with a mandatory 20 per cent offer for the shareholders of the target company files the draft offer with Sebi, which raises queries on different issues ranging from the nature of the proposed financing of the deal to legal cases pending against the target company.