The battle for Great Offshore is likely become more intense now as Videocon Chairman Venugopal Dhoot has dropped hints that he could join
the race for the integrated oilfield services provider.
"I would not sell my 3 per cent stake in Great Offshore. Now, whether I should go for bidding or I should keep it, that will be decided only tomorrow. I am meeting my merchant banker for advise on this," Dhoot told PTI when asked if he was interested in bidding for stakes in Great Offshore.
Two days ago Great Offshore found itself in midst of a battle between Bharti Shipyard and ABG Shipyard for acquiring controlling stake in the oilfield services provider.
After acquring an additional 5 per cent stake in Great Offshore through open market transactions on Tuesday, Bharti, which had also announced an open offer at Rs 344 a share, had hinted at revising its offer price upwards above Rs 403 a share.
It did so to counter a bid on the same day by ABG Shipyard which announced an offer at Rs 375 a share.
Both ABG and Bharti are more than keen on Great Offshore, which analysts said, is a great buy at current levels with its good assets.
Source: Economic Times