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Motherson Sumi rose over 3% to Rs 338 during early-morning trade in an otherwise lower market after reports that the company will buy truck wire maker PKC Group for 571 million euros ($ 609 million).
The company has offered 23.55 euros per PKC share, representing a 51% premium to PKC's closing price on Thursday.
“MSSL had stated direction to grow more in the commercial vehicle segment and this step is in the right direction. Leveraging these opportunities and the capabilities, the combined company will accelerate growth and profitability improvement. By offering a larger product portfolio as well as
The company has offered 23.55 euros per PKC share, representing a 51% premium to PKC's closing price on Thursday.
“MSSL had stated direction to grow more in the commercial vehicle segment and this step is in the right direction. Leveraging these opportunities and the capabilities, the combined company will accelerate growth and profitability improvement. By offering a larger product portfolio as well as
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