The board of Mahindra Satyam which met on Friday allotted 19.86 crore shares to Venturebay Consultants – a subsidiary controlled by Tech Mahindra, taking the stake of the new owner to nearly 43 per cent. Mahindra...
Bharati Shipyard ups open offer price to Rs 405
Bharati Shipyard, which acquired 19.47 per cent stake in Great Offshore last month, has increased its open offer price to Rs 405 a share. On June 23, Great Offshore found itself at the centre of a takeover battle, after...
SEBI guidance to Bharti on MTN deal
The Securities and Exchange Board of India ( SEBI) in an “informal guidance” to Bharti Airtel has said that MTN Group would be required to make an open offer only if it converted the Bharti Airtel GDRs they...
SBI’s consolidation proposal hits union hurdle
The Centre has advised the State Bank of India not to pursue with the Reserve Bank of India the issue of acquisition of State Bank of Indore. Instead, the Government has now asked the SBI management to invite bank...
Kavveri Tele buys 67% in Canadian firm
Kavveri Telecom Products Ltd, a maker of antennas and radio frequency (RF) products for the wireless industry, has acquired a 67 per cent stake in Canada-based design and development firm, Trackom Systems International...
Gitanjali to pick 70% in MobileNXT
Gitanjanli Gems is to acquire 70 per cent stake in Bangalore-based mobile phone retail chain MobileNXT Teleservices through its wholly owned subsidiary Gitanjali Lifestyle Ltd. Gitanjali Lifestyle has entered into an...
Wockhardt to shed more non-core biz
More non-core businesses will be sold in three to six months, the Wockhardt Chairman, Mr Habil Khorakiwala, told shareholders on Monday. The debt-ridden drug-maker has in the last 10 days announced the divestment of its...
Alstom in race for Areva’s T&D biz
Alstom of France, a global leader in the power generation equipment and services business, is believed to be the front-runner for buying out Areva’s power transmission and distribution division, according to...
Wockhardt to sell animal health unit to French company
Just 10 days after Wockhardt said it was selling its business in Germany, the debt-ridden drug-maker has announced that it is divesting its animal health division to France’s Vétoquinol for an undisclosed...
Fight for Great Offshore could drain internal accrual
The race for acquiring a stake in offshore oilfield service provider Great Offshore Ltd (GOL) gained pace with ABG Shipyard making a counter offer early on Tuesday, and Bharati Shipyard announcing its intention of...
No smooth sailing for Novartis, Pfizer open offers
It has not been a smooth sailing for multinational drug companies Novartis and Pfizer looking to hike stake in their Indian arms. Novartis’ open offer to hike equity in its local arm to 90 per cent did not meet...
Kirloskar Brothers Ltd is eyeing acquisitions in the US, the UK
Pump major Kirloskar Brothers Ltd is eyeing acquisitions in the US, the UK and the Far East, according to its Vice-President and Sector Head, Mr Pradeep Chapalgaonkar. The company has initiated talks with four-five...
