Page 19 - Acquisition

Sun Pharma revises upwards price to fully acquire Taro to $43 per share

Sun Pharmaceutical Industries on Tuesday said it has revised upwards the price at which it proposed to fully acquire Israel-based Taro Pharmaceutical Industries to USD 43 per share in cash. In May this year, the company announced a non-binding indication of interest to acquire all of the outstanding ordinary shares of Taro for a purchase price of USD 38 per ordinary share in cash through a reverse triangular merger. Subsequently, the company was engaged in multiple rounds of price negotiations with a special committee of the Board of Directors of Taro regarding the proposal. Such negotiations resulted in the company communicating to the special committee updated terms pursuant to which the company has proposed to acquire all of the outstanding shares of Taro's ordinary shares for a purchase price of USD 43 per share in cash, Sun Pharmaceutical Industries said in a regulatory filing. Further, the company said that on December 10, the special committee confirmed that it agreed in ...

LIC to infuse Rs 25 crore into its subsidiary LIC MF Asset Management

LIC MF ranks 23rd among fund houses in terms of assets under management (AUM). In the September 2023 quarter, the fund house's average AUM was Rs 24,257 crore

Alaska Air to buy Hawaiian Airlines in a $1.9 billion deal with debt

Alaska Air Group said Sunday it agreed to buy Hawaiian Airlines in a $1.9 billion deal including debt. The combined company would keep both airlines' brands, which call the 49th and 50th states their homes. Alaska will pay $18 in cash for each share of Hawaiian, whose stock closed Friday at $4.86. The deal also includes $900 million in Hawaiian debt, which the airlines said brings the acquisition's total value to $1.9 billion. The deal still needs approval from the boards of both companies, as well as from the shareholders of Hawaiian Holdings. It will also need the blessing of U.S. regulators, which have shown resistance to more consolidation within the airline industry out of fear it could lead to higher fares. The companies expect the deal to close in 12 to 18 months.

Tata Power acquires Bikaner-Neemrana Transmission Project via bidding

Tata Power on Saturday said it has acquired Bikaner-Neemrana Transmission Project through a bidding process. Bikaner-III Neemrana-II Transmission Ltd is a special purpose vehicle (SPV) set up by PFC Consulting, for the project. The company has acquired Bikaner-Neemrana Transmission Project to boost renewable energy evacuation in India, a company statement said. The company received the letter of intent (LOI) after emerging as a successful bidder in the Tariff-Based Competitive Bidding (TBCB) process, as per the guidelines issued by Ministry of Power, it added. The project, which will be developed on a Build-Own-Operate-Transfer (BOOT) basis, will enable the evacuation of 7.7 GW of renewable energy from the Bikaner Complex in Rajasthan. The project entails establishment of a 340-km transmission corridor from Bikaner-III pooling station to Neemrana II substation. Tata Power will maintain the transmission project for a period of 35 years. It is estimated to cost Rs 1,544 crore and i

Reliance Retail, Naturals Salon call off acquisition deal over valuation

Last year, Business Standard reported that Reliance Retail would foray into the salon business by acquiring a 49% stake in Naturals Salon & Spa

Philips Carbon Black to acquire Aquapharm Chemicals for Rs 3,800 crore

The acquisition of Aquapharm Chemicals Private Limited marks the company's foray into global specialty segments of water treatment chemicals and oil & gas chemicals

Open to acquisitions in health, personal care categories: Dabur Chairman

Dabur India is the maker of Hajmola and Fem beauty bleach

Pidilite to enter lending business, to acquire promoter group's NBFC firm

Adhesive and construction chemicals manufacturer Pidilite Industries plans to enter the lending business, providing small-value retail loans. To facilitate this, Pidilite Industries, would acquire an existing NBFC -- Pargro Investments, belonging to its Promoter Group, according to a regulatory update. "Pidilite Industries Ltd, intends to set up a Lending Business," the company said. Over the next two years, to build the new business, the company expects to invest up to Rs 100 crore in tranches, through an optimum mix of equity and debt. "The new business would provide credit to its domain ecosystem to support their business growth. This credit will be provided primarily in the form of small-value retail loans," said Pidilite, the makers of Fevicol, Dr Fixit, Fevikwik and M-Seal. Pargro will be acquired by Pidilite through a wholly-owned subsidiary under a Share Purchase Agreement (SPA) to be entered by March 31, 2024. "The acquisition of Pargro will be done at a fair value of up

Byju's in talks with 3-4 strategic buyers to sell Epic for $450 million

Byju's and its term loan B lenders then decided to postpone the ongoing disagreement in the US courts and achieve an out-of-court resolution

Raymond Group to acquire 59% stake in Maini Precision for Rs 682 crore

The acquisition will be concluded through Ring Plus Aqua, a subsidiary of JK Files and Engineering

Raymond Group to acquire 59.25% stake in Maini Precision for Rs 682 cr

With this acquisition, Raymond's engineering business will emerge as a large‐scale provider of engineering, automotive, electric vehicle (EV), aerospace and defence components

Jhunjhunwala family-backed IKS Health acquires US tech firm for $200 mn

The combined company is forecast to have an annual revenue of over US$ 330 million (Rs 2,748 crore), as well as a global workforce of over 14,000 employees

Blackstone makes health care foray with $1 bn deals, buys Care Hospitals

Blackstone's investment commitment combining QCIL and KIMS is close to $1 bn

Hindustan Foods Ltd to invest Rs 100 cr to in sports shoes manufacturing

Hindustan Foods Limited has entered into a sales and purchase agreement (SPA) to acquire 100 per cent of the shareholding of KNS Shoetech Private Limited from its existing shareholder

TVS Srichakra to acquire US based firm, to grow off-highway tyre biz

TVS Srichakra Ltd, makers of TVS Eurogrip, Eurogrip and TVS brand of tyres, has drawn up plans to acquire the US-based Super Grip Corporation as part of its vision to grow in the global off-highway tyre market. On Friday, the company's board of directors approved the formation of a subsidiary in the United States market ahead of the acquisition plan. Super Grip Corporation, established in 1984, is engaged in manufacturing of high-quality tyres for the industrial tyre market. We view the proposed Super Grip transaction with excitement. The company fits in well with our plan to expand our off-highway tyre business globally, TVS Srichakra Ltd Director S Ravichandran said in a company statement here. The proposed transaction also brings with it an experienced and motivated management team, which will add value to the business over time, he said. TVS Srichakra recently invested in a new plant at its facility in Madurai to double the off-highway tyre capacity. This investment is largely

Tata Motors to acquire 27% stake in Freight Commerce for Rs 150 crore

'Freight Tiger' is a digital platform that provides end-to-end logistics value chain solutions for cargo movement in the country

Diagnostic services firm Manipal HealthMap acquires Medcis Pathlabs

Company buys remaining stake in peer after first deal in 2022 gave it 84%

JK Paper to acquire Manipal Utility Packaging Solutions for Rs 90 crore

JK Paper Ltd on Monday said it will fully acquire Manipal Utility Packaging Solutions Pvt Ltd for nearly Rs 90 crore. The company has entered into a share purchase agreement (SPA) for the acquisition of 100 per cent shares of Manipal Utility Packaging Solutions Pvt Ltd (MUPSPL), JK Paper said in a regulatory filing. Under the SPA, JK Paper will acquire 4.07 crore equity shares representing 100 per cent of capital of MUPSPL at Rs 21.80 per equity share of Rs 10 each, subject to adjustments as per terms of agreement, it added. The acquisition is expected to be completed within six weeks of execution of the SPA with the target entity and its promoters/shareholders, subject to fulfilment of conditions mentioned in the SPA, the company said. JK Paper Vice Chairman and Managing Director Harsh Pati Singhania said, "This acquisition is in line with the long-term strategic objective of the company in the packaging business and gives us an opportunity to offer combined solution to the custom

Birla Carbon acquires Belgium based Nanocyl for undisclosed amount

Aditya Birla group firm Birla Carbon on Wednesday announced the acquisition of Belgium-based Nanocyl SA for an undisclosed amount. The acquisition will help the Aditya Birla group firm to drive Growth in battery materials for lithium-ion batteries, said a joint statement from Birla Carbon and Nanocyl. Birla Carbon is a leading manufacturer and supplier of high-quality carbon solutions. "The acquisition expands Birla Carbon's presence in the Energy Systems market, creating a leadership position in material critical to Lithium Ion battery performance, along with other conductive applications," the statement said. The inclusion of Nanocyl's advanced multi-wall carbon nanotubes (MWCNTs) provides Birla Carbon with a remarkable range of solutions for conductive applications, it added. Financial details of the deal were not disclosed. "Birla Carbon has been nurturing a number of innovation opportunities in its effort to realise its multi-prong sustainability agenda. The acquisition of .

CCI clears acquisition of Hitachi Astemo by HMCL, Japan Investment Corp

Fair trade regulator Competition Commission of India (CCI) on Tuesday said it has cleared the acquisition of certain shareholding in Hitachi Astemo Ltd (HAL) by Japan Investment Corporation and Honda Motor Co Ltd (HMCL). The proposed deal relates to the acquisition of 20 per cent voting rights in HAL by JICC, an affiliate of Japan Investment Corporation, together with certain control rights, board representation and other rights, according to an official release. JICC-01 Ltd Partnership is managed by JICC G.K, an affiliate of the Japanese government's sovereign wealth fund Japan Investment Corporation (JIC). Also, the regulator approved the acquisition of an additional 6.6 per cent of voting rights in HAL by HMCL, such that 40 per cent of the voting rights in HAL are held by HMCL. In addition, CCI also gave its nod to the acquisition of a 49 per cent stake in Hitachi Astemo Electric Motor Systems (HAEMS) by HAL, such that 100 per cent of the shareholding of HAEMS is held by ...