Vedanta Resources

Ticker VED

Today's data summary

Market open
% change
+1.83%
Price Pence
835.80
Change
+15.00
As of 14:40 21 Sep 2018
Market cap. Pound sterling
2,277.02 million
As of 14:40 21 Sep 2018

Latest updates

Vedanta snapped up by Chairman's trust

Vedanta copper smelter
Reuters

Under-fire mining conglomerate Vedanta Resources has been valued at £2.3bn in a deal "agreed in principle" that would give chairman Anil Agarwal’s family trust Volcan Investments the rest of the company.

The offer of 825 pence per share represents a 27.6% premium to the London-listed firm's Friday closing price of 646.8 pence.

Under the offer, shareholders will also be entitled to receive the previously announced dividend of US$0.41 per Vedanta share.

The company came under criticism earlier this year after protestors were massacred outside the firm's southern Indian copper smelter.