By Monika Singh | 12 Oct, 2022
Cummins makes open offer to buy 26% in Automotive Axles
Cummins Inc on Tuesday announced an open offer to acquire a 26% stake in auto component company Automotive Axles, which is a joint venture of Kalyani Group and US-based Meritor, with each entity owning 35.52% stake in the company. Cummins said it would acquire up to 39.29 lakh fully paid-up equity shares with a face value of `10. The open offer price has been fixed at `1,504.43 per share. This w...