Jindal Saw Ltd has informed BSE that the Hon’ble High Court of Judicature at Allahabad during the hearing held on July 13, 2009 has approved the merger of Highgate Consultants Ltd, the wholly owned subsidiary of...
Madras HC halts Daiichi’s open offer for Zenotech
The Madras High Court (HC) on Tuesday stopped Japanese company Daiichi Sankyo from going ahead with its proposed open offer to ac-quire an additional 20% in the Hyderabad-based drugmaker, Zenotech, at Rs 113.62 per...
New York Times exits radio with $45 mn sale
The New York Times Co is selling its classical music station and exiting the radio business. The Times is selling WQXR-FM in a three-way deal that will see the classical music format become part of public radio , and...
Disinvestment firmly back on Centre’s agenda
Disinvestment in central public sector undertakings (PSUs) is now firmly on the UPA Government’s agenda. The Finance Ministry has initiated discussions with other ministries and departments for identifying the...
M&A guidelines in next 2 months: IRDA
Insurance regulator IRDA today said it is likely to finalise the guidelines for mergers and acquisitions of insurance companies in the next two months. "It (guideline) is most likely to be...
India-targeted M&A volume touch 3-yr low
Merger and acquisition (M&A) activities involving Indian companies have slumped to a three-year low of $19.9 billion so far in 2009, with the corporate world facing a liquidity crunch in the wake of the global...
Sundaram Clayton – Updates on Scheme of Amalgamation
Sundaram Clayton Ltd has informed BSE that the Scheme of Amalgamation with regard to the amalgamation of M/s. Auto (India) Engineering Ltd (AIEL), a wholly owned subsidiary of the Company with the Company has been...
Entegra unsecured creditors to approve Scheme of Merger
Entegra Ltd has informed BSE that pursuant to an Order made on June 25, 2009, the Hon’ble High Court of Judicature at Bombay has directed that a meeting of the Unsecured Creditors of the Company will be held on...
Idea gets nod to hive off tower business
Idea Cellular has received the shareholders’ approval for hiving off its towers into a subsidiary — Idea Cellular Towers Infrastructure. This subsidiary will have Idea’s nearly 11,000 towers in nine...
Tata associate to acquire MNC trailer manufacturer
TRF Ltd, an associate company of Tata Steel, has signed an agreement to acquire Dutch Lanka Trailer Manufacturers Ltd (DLT). In the first phase, TRF would acquire a 51 per cent stake for $8.67 million and also sign a...
Asarco creditors support Sterlite bid
Committee of unsecured creditors mobilises members; says the offer outscores others. Asarco’s unsecured creditors will support Sterlite Industries, the flagship firm of London-listed Vedanta group, in the bidding...
Tech Mahindra ‘comfortable’ holding 43% in Satyam
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...
