Pallonji Mistry makes open offer for 20% in FAL

 Sterling Investment Corporation (the acquirer) and Shapoorji Pallonji & Co and Cyrus Investments (persons acting in concert) have made an open offer to acquire up to 20 per cent of the equity share capital, aggregating to 9.11 lakh fully paid up equity shares, of FAL Industries at a price of Rs 25 per share payable in cash. The offer opens on November 25 and closes on December 24.

 The Mistrys hold about 39.26 per cent in FAL Industries, majorly through the diversified Forbes Gokak. Mistry came to control Forbes Gokak when the Tatas decided to sell the company in 2001 as part of the group