SBI to focus on big-ticket overseas buyouts THE country’s largest bank, the State Bank of India (SBI), will look only at fairly large-size overseas acquisitions the next time around. The bank is set to be a more...
PartnerRe to buy rival Paris Re in $2 bn deal
Bermuda-based reinsurer PartnerRe said late on Sunday it will acquire smaller rival Paris Re in a $2 billion deal that catapults the company into the No. 4 spot among global reinsurers. PartnerRe Chief Executive Patrick...
We got Satyam at walk-away price: Mahindra
It all began way back in 1986, with a not-so-princely sum of Rs 1 crore, when Keshub Mahindra set up Tech Mahindra jointly with BT to get into telephony business in Maharashtra. But the government turned down his plan...
Origin withdraws offer to buy Affymetrix
Origin Technologies Corp, owned by Affymetrix Inc’s (AFFX.O) former employees, withdrew its offer to buy the gene-sequencing products maker, hours after Affymetrix said on Monday that Origin’s raised bid was...
LIC increases stake in IDBI Bank to 14.37%
State-owned lender IDBI Bank on Monday informed stock exchanges that Life Insurance Corp. (LIC) of India now owns 14.37% stake in the bank, after a preferential issue of shares last week. The life insurance behemoth...
eKincare raises Rs 2.2 cr in pre-Series A funding
eKincare, a Hyderabad-based healthcare technology start-up, has secured Rs 2.2 crore in a pre-Series-A round of funding. The fundraising was led by existing investor Bitkemy Ventures, with participation from Maheshwari...
Vivint Solar Seeks Financing After Canceling SunEdison Deal
Vivint Solar Inc. is seeking to raise “substantial†amounts of cash after its canceled acquisition by SunEdison Inc. hindered the company’s operations. Vivint had $92.2 million in cash and equivalents on hand as...
Starwood Hotels Gets Unsolicited $13 Billion Takeover Approach
Starwood Hotels & Resorts Worldwide Inc. received an unsolicited takeover proposal from a group of investors led by China’s Anbang Insurance Group Co., potentially upending a deal with Marriott International Inc...
Mittals, SingTel to buy 6% more in Airtel
The promoters of Bharti Airtel, the Mittal family and SingTel, are looking to acquire an additional six per cent stake in the country’s largest telecom firm. The move may lend some support to the company’s...
RELIGARE’s Money Game
In April 2011, Religare Enterprises through its US-based wholly owned subsidiary, Religare Global Asset Management, acquired 55% stake in Landmark Partners for $171.5 million or Rs 770 crore. The deal valued Landmark at...
Case Law : Tata Consultancy Services Vs. ACIT
Tata Consultancy Services Vs. ACIT (ITAT Mumbai) Topic: There are two matters:- Whether payments made for purchase of unexpired processing contracts can be treated as capital in nature. Whether depreciation on lease of...
STEEL A Deal Impact: JSW and ISPAT ACQUISITION
Way back in December 2010, JSW Steel entered into an agreement with Ispat Industries Ltd to acquire 41.4% stake in Ispat at a price of Rs 19.85 per share for Rs 2,157 crore on a preferential basis. The funds were mainly...