M&A
Liberty acquires European steel assets of ArcelorMittal for $740 million
01 Jul 2019
The deal brings Liberty Steel’s total rolling capacity to over 18 million tonnes, covering a wide range of finished products, and catapults it into top 10 steel producers globally outside China
Number of US states opposing T-Mobile-Sprint merger rises to 14
26 Jun 2019
US District Judge Victor Marrero noted that while the complaint, filed by attorneys who are Democrats, maintains that aggressive competition have resulted in “falling prices,” they also state the companies’ ability to signal each other on rates “has led to higher prices for consumers”
Binny Bansal sells 0.33% in Flipkart to Walmart for $76.4 million
24 Jun 2019
Binny Bansal, who had earlier also sold a small portion of his residual stake in Flipkart, owned 3.52 per cent stake in Flipkart before the latest sale of 5,39,912 shares to Walmart
Vedanta chief eyes NMDC, rest of HZL and other mining PSUs
24 Jun 2019
Agarwal, whose Sterlite Copper has been shut over charges of causing pollution and already owns 64.9 per cent stake in Hindustan Zinc Ltd, said the government should divest its stake in NMDC, HZL, Hindustan Copper, Kolar Gold Fields and Uranium Corporation as also Shipping Corporation of India
ONGC Videsh, partners to invest $20bn in Mozambique LNG project
20 Jun 2019
ONGC Videsh holds a 16 per cent stake in the Mozambique Rovuma Area-1 Offshore Project, while Bharat PetroResources Ltd the investment arm of Bharat Petroleum Corporation Ltd, and Oil India Ltd also hold stakes in the project
Pfizer to acquire cancer drug maker Array Biopharma for $10.6 bn
18 Jun 2019
Array’s Braftovi and Mektovi, launched last July for the deadliest form of skin cancer at a price of $22,000 per month, had sales of around $72 million over their first nine months, besides revenue from royalty and licensing deals
Dassault expands life sciences business with $5.8 billion Medidata deal
14 Jun 2019
French aerospace and defence major Dassault Systemes has been expanding its operations into digital transformation and life sciences industry beginning 2012
CCI gives conditional nod for Schneider’s acquisition of L&T unit
07 Jun 2019
CCI has approved Schneider Electric’s acquisition of the electrical and automation business of Larsen & Toubro Limited on condition that the acquirers reserve a part of L&T’s installed capacity to offer white labelling services to third party competitors
L&T raises equity holding in Mindtree to 28.90%
07 Jun 2019
OBC, Indian Bank and Corp Bank to combine in third PSB merger: report
06 Jun 2019
Once the merger goes through, the new entity will have combined deposits estimated at Rs6,60,000 crore and advances of Rs4,80,000 crore
International Paper to sell its India business to West Coast Paper
30 May 2019
Depending on the open offer, WCPM will acquire 51-60 per cent of APPM’s shares at Rs275 per share from IP for a total of around Rs660 crore