British engineer Cobham Plc (COB.L) is to be acquired by U.S. private equity firm Advent International in a deal that would value it at about 4 billion pounds ($4.99 billion) including debt, the Financial Times...
Sterlite Power, Welspun, IARC, others bid for Punj Lloyd
Bankrupt engineering company Punj Lloyd has received initial bids from both strategic players and asset reconstruction companies, including Sterlite Power, Welspun Enterprises, International Asset Reconstruction Company...
Cummins makes offer for VW’s large engines unit: sources
United States-based diesel engines maker Cummins (CMI.N) has made an indicative offer for Volkswagen’s (VOWG_p.DE) MAN Energy Solutions unit, people close to the matter said, as the carmaker seeks to slim down its...
Finland’s Metso merges minerals technology arm with Outotec
Finnish engineering group Metso is merging its main minerals technology business with smaller rival Outotec, Metso said on Thursday, sending shares in both companies higher. Outotec shares were up 19 percent, and...
Varroc in talks with Sintex to buy automotive moulding unit
Aurangabad-based Varroc EngineeringNSE 0.23 % is in advanced talks with Sintex Plastic Technology to acquire the latter’s domestic automotive custom moulding business, according to several people familiar with the...
Germany’s Schaeffler sells British factory in job securing deal
German bearings maker Schaeffler has sold its Barden factory in Plymouth, south-west England to a division of HQW Precision GmBH, securing nearly 400 jobs. Schaeffler said in March it would cut 900 jobs, shut plants and...
Siemens spins off struggling gas and power in smart digital shift
Siemens is spinning off its gas and power business, which has dragged on the German engineering firm’s performance as the rise of renewable power hits demand for gas turbines. The new firm would be a “major player” in...
McNally Bharat Engineering reclassifies EMC as its promoter shareholder
McNally Bharat Engineering (MBEL), an associate company of the Williamson Magor Group (WMG) has reclassified its former promoter EMC Ltd as a public shareholder in the firm even as MBEL faces insolvency proceedings...
NCLT rejects maintainability plea filed by Kirloskar Bros
In a relief to brothers Rahul and Atul Kirloskar, the Mumbai bench of the National Company Law Tribunal (NCLT) has dismissed the maintainability petition filed by their sibling Sanjay Kirloskar-controlled company...
Gardner Denver to merge with Ingersoll-Rand division: WSJ
Industrial machinery maker Gardner Denver Holdings Inc is nearing a deal to merge with a division of Ingersoll-Rand Plc, creating a business that would have an enterprise value, including debt, of about $15 billion, The...
Competition Commission gives nod to Schneider-L&T deal
The Competition Commission Thursday said it has given approval to Schneider’s acquisition of Larsen & Toubro’s electrical and automation business in a ₹14,000-crore deal. However, the deal is subject to...
NCLAT asks winning bidder to raise offer for United Seamless
In a likely first in India’s recent bankruptcy history, an appeals court has set aside a lender-approved resolution plan on the ground that the proposed upfront payment for the stressed asset, Indo-Malaysian joint...
