Cairn, Vedanta to remain in focus on merger

The boards of Cairn India and Vedanta are likely to meet on Sunday to consider a ‘reverse’ merger aimed at cutting debt on Vedanta’s books. It is widely expected from market partcipants that the boards of Cairn India and Vedanta will consider the share swap ratio and decide on the timelines for completion of the merger. Both the shares will react to the outcome of the board meetings, whether the merger gets the nod or not.