If this deal goes through, Cairn India minority shareholders will own 20.2% in the merged entity and Vedanta’s minority shareholders 29.7%. The sweeter terms may persuade minority shareholders to reconsider the merger, which would give Vedanta access to Cairn India’s large cash pile. On Friday, Vedanta shares rose 7.44% to Rs.168.95 and Cairn India shares gained 8.72% to Rs.192 on a day the BSE’s benchmark Sensex gained 0.33% to 27,803.24 points. “The revised terms are definitely better than the earlier terms. So, the revised terms have to be examined carefully by LIC’s internal departments and the board-level committee,” the person added.

Source: Mint July 22, 2016 12:35 UTC