M&A
Walmart may get 3-4 seats on Flipkart board after stake purchase
30 Apr 2018
US retail giant Walmart, which is in negotiations for a large stake in Flipkart, may be given three or four seats on the ten-member board of the online retailer, which will continue to be run as an independent company if the deal goes through
Aditya Ghosh exits as IndiGo chief, Gregory Taylor in line for job
28 Apr 2018
IndiGo president and director Aditya Ghosh unexpectedly resigned as CEO of India's largest and most proftable airline, with Rahul Bhatia, the billionaire director of parent company InterGlobe Aviation Ltd, taking over as an interim CEO
Fortis to consider all binding bids till 1 May; Manipal gets extra leeway
28 Apr 2018
The Fortis Healthcare board will meet on 10 May to consider all binding bids till 1 May, while the frontrunner, the Manipal Health Enterprises-TPG combine, will be allowed to revise its offer till 6 May
Bharti Infratel, Indus Towers to merge in a $20-bn deal
25 Apr 2018
While the merger of Bharti Infratel and Indus Towers will create a combined company that will be owned by Bharti Airtel and Vodafone with equal rights, Vodafone and Idea Cellular will have an exit option in future
IHH, KKR submit binding bids for Fortis, Manipal revises bid
25 Apr 2018
IHH has offered to infuse Rs650 crore immediately into Fortis Healthcare, while Radiant-KKR has offered to purchase Fortis Mulund for Rs1,200 crore without any due diligence, and Manipal-TPG submitted a revised offer which includes a premium of Rs1,319 crore
US generic drugmaker Akorn files lawsuit against Fresenius for terminating $4.75 bn deal
24 Apr 2018
NCLT directs Essar lenders to reconsider Arcelor, Numetal bids
21 Apr 2018
The NCLT order invalidates the second round of bidding for Essar Steel involving Vedanta and JSW Steel and opens the possibility of ArcelorMittal or Numetal winning the race for Essar Steel
SC allows Sahara to sell Aamby Valley in parts, sets 15 May deadline
20 Apr 2018
The apex court bench said if the Sahara group fails to sell its property by 15 May, it would proceed with the plan submitted by the Bombay HC liquidator to auction five land parcels it had identified
Procter & Gamble to buy the consumer health business of Merck KGaA for $4.2 bn
20 Apr 2018
As part of the deal, P&G will acquire a majority stake of 51.80 per cent stake in India listed drug firm Merck Ltd for Rs 1,289.88 crore and subsequently make a mandatory tender offer to minority shareholders
China's Fosun enters race for Fortis Healthcare with $350 mn offer
18 Apr 2018
Fosun said it will consider a primary infusion of up to Rs2,300 crore ($350 mn), with Rs100 crore flowing in within 45 days, once Fortis agrees to a one-month period of exclusivity for Fosun to undertake due diligence and negotiate a proposal to acquire stake in the company
JSW Steel offers to invest in Numetal arm for Essar Steel stake
16 Apr 2018
The announcement comes ahead of a possible order by the Ahmedabad bench of the National Company Law Tribunal on the eligibility of ArcelorMittal and Numetal to bid for debt-laden Essar Steel
IHH out of race for Fortis as board refuses to weigh offer
16 Apr 2018
Malaysia’s IHH Healthcare Bhd said today India’s Fortis Healthcare Ltd has declined to engage with the company regarding a takeover offer, which indicates that the Manipal Health Enterprises-TPG Capital combine is virtually certain to win Fortis
UltraTech raises offer for Binani Cement to Rs7,990 cr
16 Apr 2018
Since lenders cannot accept the revised offer of Rs7,990 crore, although it is Rs1,290 crore more than Dalmia Bharat’s approved bid, operational creditors of Binani Cement are now seeking a forensic audit of the resolution process and a change of resolution professionals
Infosys to acquire Wongdoody
14 Apr 2018
Infosys to sell subsidiaries Panaya and Skava
14 Apr 2018
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