We study a realization of the composite Higgs scenario in the context of the effective model with the SU (2)L × U (1)R symmetric four-fermion interactions proposed by Miransky, Tanabashi and Yamawaki. The model implements Nambu's mechanism of dynamical electroweak symmetry breaking leading to the formation of tt and bb quark condensates. We explore the general vacuum structure and spectrum of the theory by using the one loop effective potential. As a direct consequence of this mechanism, the Higgs acquires a mass close to the value mH √ 2mt. The present prediction differs from the previous estimate mH = 2mt and is phenomenologically preferable. The other consequence of our consideration is the existence of a critical point g1 = gc, g2 = g3 = 0 where the original SU (2)L × U (1)R theory possessing a heavy sequential Higgs state turns into the U (2)L × U (2)R symmetric theory where the heavy Higgs is transformed into a Goldstone mode.