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March 4 (plastemart) -- The shares
of Reliance Industries Ltd. (RIL) have spiked past the 1000 mark as reports pour
in that the bankrupt petrochemicals firm LyondellBasell rejected an acquisition bid by RIL. RIL had bid for LB in November at about US$12 bln that it raised to
US$14.5 bln a week ago.
Investors were concerned that RIL was paying too much for the acquisition
because of which the share prices had weakened. However, markets have been
believed that the deal did not come through.
mrcplast.com |
