2019 (9) TMI 1314

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....AT<br>Dated:- 19-9-2019<br>Appeal No. 183 of 2018 - -<br>Securities / SEBI<br>Justice Tarun Agarwala, Presiding Officer, Dr. C.K.G. Nair, Member AND Justice M. T. Joshi, Judicial Member Mr. Ankit Lohia, Advocate with Ms. Rakshita Poddar and Mr. Shikhar Sthapak, Advocates i/b Mindspright Legal for the Appellant. Mr. Kevic Setalvad, Senior Advocate with Mr. Vivek Shah, Advocate i/b ELP for Respond....

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....dated May 24, 2016 was executed between Hewlett Packard Enterprise Company, Computer Sciences Corporation and Respondent No. 4 i.e. DXC Technology Company. Pursuant to this Merger Agreement, the acquirer, Respondent No. 2 along with Respondent Nos. 3 & 4 were required to make a public announcement under the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers), R....

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....nded that if the old definition of "frequently traded shares" was considered which was existing prior to September 11, 2018, the price per share would be fixed at&nbsp;Rs. 79.58 and if the frequently traded shares as per the amendment made on September 11, 2018 is taken into consideration the price would be&nbsp;Rs. 52.22 per share. 5. Thus, according to the appellant the offer price of&nbsp;Rs.....

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....te when the Merger Agreement on May 24, 2016 was made is also required to be considered. Since, we find that the authority has not considered these aspects it will not be appropriate for this Tribunal to consider these propositions at this stage. 7. In this regard, we find that the appellant had written several emails to SEBI intimating them that the offer price was required to be calculated as ....