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Minda may have its work cut out raising stake in component major Pricol

The question is how far Minda will drive itself in its bid to acquire market share

Minda
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Minda’s move was seen as an effort to strengthen its presence in the dashboard instruments business

Shine Jacob Chennai
Whether it was Carborundum Universal’s (CUMI’s) hostile takeover of Wendt India in 1991, India Cements gaining a controlling stake in Raasi in 1998 or the acquisition of Mindtree by L&T in 2019, southern India is not alien to the concept of hostile takeovers.

Over the past three months, a new takeover drama has been unfolding once again in the South, with the management of Coimbatore-based auto component major Pricol and its rival Gurugram-based Minda Corporation at loggerheads over a possible hostile buyout of Pricol by the latter.

The high-voltage battle kicked off on February 17, when Minda Corporation announced the

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First Published: May 25 2023 | 6:40 PM IST

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