AZB & Partners advised Tata Steel Limited in relation to various aspects of the Takeover Regulations and assisted Tata Steel Limited in negotiating and finalising the transaction documentation, the letter of offer and the advertisements. Tata Steel Limited had initiated a voluntary open offer to acquire 14,653,470 equity shares from the equity shareholders of the Target at an offer price of INR 60 per equity share. This open offer was successfully accepted by the equity shareholders of the Target pursuant to which 14,653,470 equity shares were acquired by Tata Steel Limited, thereby increasing its stake in the Target from 59.44% to 73.44%. The total consideration was of Approx. INR 879 million. The team comprised of Shameek Chaudhuri and Varoon Chandra