The Board of Directors of Alstom India had on November 9 last year constituted a committee of independent directors (IDC) to provide recommendations on the open offer by GE Energy Europe BV.

"IDC is of the opinion that the offer price (Rs 440.32 per share) to the public shareholders of the target company is in accordance with Sebi guidelines," Alstom India said in a regulatory filing.

The stock price on BSE and NSE was Rs 655.85 and Rs 654, respectively, at the close on Tuesday, which is more than the offer price.

"The shareholders should independently evaluate the offer and take informed decision in this regard," it said. IDC, headed by Uddesh Kohli, had other members as K Vasudevan and Arun K Thiagarajan. The US energy and healthcare giant General Electric Co (GE) made the open offer following its USD 16.9 billion bid to acquire the global energy assets of the French multinational company, Alstom.

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