 "merger")
Aided by the $57.8-billion merger of HDFC Bank and HDFC, India Inc reported its highest ever mergers and acquisitions in calendar 2022 at $171 billion as against deals worth $145 billion announced last year.
The acquisition by the Adani group across cement, media and ports dominated the headlines with the conglomerate making its foray into the cement sector by buying Swiss materials firm Holcim’s stake in Ambuja Cements for $6.5 billion.
The Adani family’s additional $4-billion open offer for Ambuja did not get a response because shareholders preferred to stay invested with the new owner.
The group also acquired Haifa
