Tata Tea open offer for Everest from July 27

Tata Tea today announced an open offer to the shareholders of Mount Everest Mineral Water, to acquire up to 6,799,194 fully paid-up equity shares of face value Rs 10 each, at Rs 140 per share. This represents 20% of the enhanced capital of Mount Everest Mineral Water.

According to an official release issued by DSP Merrill Lynch to the BSE today, which is managing the offer on behalf of Tata Tea, the offer opens on July 27, 2007 and closes on August 16, 2007.

The Mount Everest scrip ended the day at Rs 120.70 on the BSE.