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This is an archive article published on July 10, 2004

ACC chief to take up GACL merger with board

Associated Cement Companies (ACC) is increasingly coming under shareholders’ pressure to consider a possible merger with Gujarat Ambuj...

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Associated Cement Companies (ACC) is increasingly coming under shareholders’ pressure to consider a possible merger with Gujarat Ambuja Cements Ltd (GACL). ACC Chairman Tarun Das said at the company’s AGM on Friday, ‘‘We have never discussed the merger issue at the board level. However, in deference to shareholder wishes, I will take it to the board for discussion’’.

GACL, which holds a tad below the 15 per cent mark in ACC has always maintained that it is a strategic investor in the company and has no immediate plans to make an open offer.

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