New Delhi, April 28 -- M&M share price remains in focus on Monday as it announced signing an agreement to acquire 58.96% stake in SML ISUZU for Rs.555 Crore to strengthen its presence in commercial vehicles segment. While Mahindra & Mahindra will be acquiring 43.96% stakes from Sumitomo Corp's promoter, it will also launch an open offer in accordance with SEBI Takeover Regulations

Mahindra & Mahindra Ltd (M&M) over the weekend announced that it has entered into an agreement to acquire 58.96% stake in SML Isuzu Ltd. at Rs.650 per share, which is an outlay of Rs.555 crore.

For a total consideration of Rs.555 crore, the Mumbai-based automaker will be acquiring the full 43.96 percent stake held by SML's promoter Sumitomo Corporation as well...