Egyptian company spooks Tata Chem (Business Standard)

Tata group's plan for the biggest overseas buy by an Indian company in Egypt has run into rough weather with Egypt Kuwait Holding (EK Holding), a financial services firm, offering $110 a share more than what Tata Chemicals' had bid for Egyptian Fertiliser Company (EFC).
Tata Chemicals initially made an open offer to buy EFC at $305 per share (or at total cost of $450 million). After EK Holding made a counter bid at $350 per share, Tata Chemicals had increased its price to $352 per share.