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Vedanta offers US$2.3b for Cairn India minorities

The deal - which is at 7.3% premium to the oil producer's Friday closing price - is expected to close in Q1 2016


INDIAN mining and energy group Vedanta Ltd made a US$2.3 billion offer on Sunday to buy out minority shareholders in cash-rich oil unit Cairn India, a deal that helps parent Vedanta Resources plc repay hefty debts.

Shareholders in Cairn India, the country's top private-

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