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GESCO counter offer at Rs 36?

Nov 7, 2000

There have been rumours in the market that the incumbent management of GE Shipping has made a counter offer for GESCO Corporation. The offer is priced at Rs 36 per share. Today the share price of GESCO rallied to Rs 41 up 6.7%.

Our attempts to authenticate this information failed as the company neither confirmed nor denied market rumours. GESCO was in the news this morning with the Mahindra’s entering the takeover battle as white knights to rescue the Sheth’s.

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