Mumbai, April 28 -- Mahindra & Mahindra has entered into an agreement with the Sumitomo Corporation, Japan, and SML Isuzu for acquiring 6,362,306 equity shares, representing 43.96% of the equity share capital of SML Isuzu. The share would be acquired at a price of Rs 650 apiece and the aggregate consideration for the same would be Rs 413.55 crore.

M&M has also inked an agreement with Isuzu Motors, Japan, for acquiring 2,170,747 equity shares (representing 15% stake in SML Isuzu) for a total consideration of Rs 141.10 crore.

In addition and in line with the SEBI Takeover Regulations, M&M has launched an obligatory open offer to acquire up to 26% of SML Isuzu from eligible public shareholders. The shares would be acquired at a price of Rs...