Virtusa Sets Rs. 370 Per Share Indicative Price for Polaris Delisting Offer
VIRTUSA (VRTU)
Last virtusa earnings: 2/6 04:05 pm
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Source: Business Wire
WESTBOROUGH, Mass.--(BUSINESS WIRE)-- Virtusa Corporation (NASDAQ GS: VRTU), a global business consulting and IT outsourcing company that accelerates business outcomes for its clients, reported that Virtusa Consulting Services, Virtusa’s Indian subsidiary (“Virtusa India”), in a notification to the applicable Indian stock exchanges, has set Rs. 370 per share (approximately $5.83 per share) as the indicative price (“Indicative Offer”) for the delisting of shares of Polaris Consulting & Services Limited (“Polaris”), from applicable Indian stock exchanges. Virtusa India, which owns approximately 74.6% of the outstanding equity shares of Polaris, also stated, as part of its notification to the Indian stock exchanges, that its Indicative Offer is at: (i) 67.6% premium to Rs. 220.73 per equity share (Takeover Offer Price), at which Virtusa India acquired 78.65 % of the voting share capital of Pola
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