Vedanta has announced the revised terms of the merger of Cairn India with itself. As per the new offer, minority shareholders of Cairn India will be issued Vedanta shares in the ratio 1:1 (remains same) along with four redeemable preference share of FV | 10/share with a coupon of 7.5% and tenure of 18 months from issuance (sweetened from one redeemable preference share earlier).The management of Vedanta expects the deal to go through by Q1CY17. If the deal goes through it would result in a diversified portfolio for Cairn's minority shareholders and would result in a better balance sheet. This could effectively reduce the cost of capital of the combined entity. The merger is dependent on various approvals, including shareholders approval of Vedanta and Cairn India whose meetings are scheduled on September 8, 2016 and September 12, 2016, respectively. In both shareholder meetings, majority of the minority approval would be required for the potential deal to go through. ICICI Securities Limited have arrived at a target price of | 165. They have maintained HOLD recommendation on the stock.Trendlyne has 11 reports on Vedanta updated in the last year from 3 brokers with an average target of Rs 173.7. Brokers have a rating for Vedanta with 1 price downgrade,1 upgrade,6 price upgrades in past 6 months and 3 price downgrades in past 1 Year.