Reliance offer for overseas acquisition

Friends,

RIL has offered to buy controlling interest in Leondell Basell, the third largest producer of petrochemicals in the world. The deal size would be greater than so far the biggest deal by Tatas for acquisition of Corus. Yet another confirmation that the heart of large Indian houses lies outside India and not necessarily in the interest of the shareholders. However, if the deal is given a thumbs up by the market then the Reliance Ind share price should explode. The offer is yet a non binding offer only. Let us keep our fingers crossed.

Hari Om,
Krsna Khandelwal

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