Street got whiff of merger? The Street seems to have got a hint of the merger proposal between Lakshmi Vilas Bank (LVB) and Indiabulls Housing Finance. Shares of the private sector lender rallied over 30 per cent last week.
On Friday, after market hours, the two companies announced the terms of the deal and a swap ratio of 14 shares of Indiabulls Housing Finance for 100 shares of LVB. Shares of LVB last closed at Rs 93, while those of Indiabulls Housing Finance ended at Rs 907. Despite the sharp rally, LVB shareholders are getting a premium of 36 per cent. “There was a ...
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