Federal-Mogul Goetze: Open offer to be delayed

Shareholders of Federal Mogul in India have had a long wait since October last year, when Tenneco announced its global acquisition of Federal Mogul, for the open offer for their shares. What is holding up the offer is a dispute over the true value of the shares and the open offer price. Even as Tenneco knocks on the Securities Appellate Tribunal's (SAT) door again, we take stock of the issue with a key interested shareholder and an expert on securities law to see if this case will set a strong precedent. Bhavook Tripathi, founder and CEO of the Brahm Group as well as JN Gupta, former ED of Securities and Exchange Board of India (Sebi) shared their views and outlook.