Vedanta’s Sweetened Open Offer Gets 58% of Investor Bids (1)

Anil Agarwal is inching closer to taking his Indian unit private as a sweetened offer to buy back 17.5% of the shares in Vedanta Ltd. drew in bids from more than half the holders.

Minority investors offered about 58% of the 651 million shares Vedanta Resources Ltd. is seeking to buy back, exchange data showed at 3:30 p.m. in Mumbai on Wednesday, the last day of the open offer. Vedanta Resources, which owns a little more than half of the Mumbai-listed company, is seeking to buy the shares from investors to take its holding closer to the 90% it ...