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Instructor spreadsheet for product 8B14N027.

Great Offshore Limited (GOL), a leading player in the Indian offshore oilfield services industry, was one of the largest customers of Bharati Shipyard Limited (BSL), the second-largest private-sector shipbuilding company in India. BSL had acquired an approximately 15 per cent stake in GOL (by invoking a share pledge) and made a public offer for a further 20 per cent stake in GOL. BSL’s rival — ABG Shipyard Limited (ABG) — announced a counter-offer. By early August 2009, both BSL and ABG had made further counter-offers and the latest offer price by ABG was 51 per cent higher than the first offer made by BSL. Both players had also invested substantially in building up their equity holdings in GOL. BSL had to decide on how far it should go to make the acquisition.

Great Offshore Limited (GOL), a leading player in the Indian offshore oilfield services industry, was one of the largest customers of Bharati Shipyard Limited (BSL), the second-largest private-sector shipbuilding company in India. BSL had acquired an approximately 15 per cent stake in GOL (by invoking a share pledge) and made a public offer for a further 20 per cent stake in GOL. BSL's rival - ABG Shipyard Limited (ABG) - announced a counter-offer. By early August 2009, both BSL and ABG had made further counter-offers and the latest offer price by ABG was 51 per cent higher than the first offer made by BSL. Both players had also invested substantially in building up their equity holdings in GOL. BSL had to decide on how far it should go to make the acquisition.