VEDL - Vedanta Ltd. -10% in U.S. as delisting plan fails

Vedanta Ltd. (VEDL) -9.9% pre-market after its attempt to buy back shares and delist itself failed, forcing it to return all the shares tendered as part of the process.The Indian commodities giant says the delisting process failed to receive the required number of shares; for a successful delisting, 1.34B shares had to be tendered, but only ~1.25B shares were tendered by investors following the offer's close on Friday, according to a stock exchange filing.The company's parent, Vedanta Resources (VDNRF), which owns 36.80% of the Indian unit, had planned to delist and take the company private to speed up the process of simplifying its corporate structure.Shares -20% on India's National Stock Exchange.

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Vedanta Ltd. -10% in U.S. as delisting plan fails