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M&M makes open offer in PTL

NEW DELHI: Mahindra and Mahindra, which agreed to buy 43.3 per cent stake in Punjab Tractors Ltd., on Monday made an open offer to acquire an additional 20 per cent in the target company, a deal that could in all cost <243>Rs. 1,391 crore. The offer was made on the same terms the company had given to private equity firm Actis and Mohit Burman.

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