<h1>Open offer obligation under takeover rules prompts acquisition-based control consolidation, enabling Ambuja Cements to take over Orient Cement.</h1> The Competition Commission of India approved Ambuja Cements Limited's proposed acquisition of Orient Cement Limited through a two-step transaction: direct acquisition of 46.80% of issued share capital from promoters and certain public shareholders, followed by a mandatory open offer under the SEBI takeover regulations for additional shares of the expanded capital, which upon full acceptance would consolidate majority ownership; the parties' overlapping cement manufacturing activities and geographic footprints were provided as commercial context.