Page 9 - Merger And Acquisition

Persistent Systems adds 4 execs to leadership team to fuel growth plans

Digital engineering services firm has a target of doubling annual revenue to $2 bn by 2026

CCI approves Titan's acquisition of additional stake in CaratLane

Fair trade regulator Competition Commission of India (CCI) on Tuesday cleared the acquisition of additional stake purchased by Titan in CaratLane. CaratLane is engaged in the business of manufacture and sale of gems and jewellery in India. The combination relates to the acquisition of 27.18 per cent share capital of CaratLane (a subsidiary of Titan) by Titan Company Ltd, on a fully diluted basis, from Mithun Padam Sacheti, Siddhartha Padam Sacheti, and Padamchand Sacheti, according to a release. Titan, a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO), is active in several businesses through lifestyle brands, including jewellery, eye care, fragrances, and fashion accessories. In August, jewellery maker Titan announced that it is going to increase its stake in its subsidiary and new-age jewellery brand CaratLane to 98.28 per cent by acquiring an additional 27.18 per cent for Rs 4,621 crore. CaratLane was started as a purely online

Buffett owned Berkshire Hathaway's cash at record $157 bn after deal slump

The hoard - which Berkshire has largely parked in short-term Treasuries - surpassed the previous high set two years ago, the Omaha, Nebraska-based firm said on Saturday

M&A activity dips amid geopolitical concerns, only 5 mega deals this year

By the end of August 2023, about 21,500 M&A deals had been announced, with a total value of $1.18 trillion. This represents a 14 per cent decrease in the number of deals

TMS Ep541: Maruti expansion, India Inc restructuring, market, Nobel disease

What is Maruti's expansion plan all about? Why is India Inc riding a merger-demerger wave? Which 5G stock is a better bet - Jio or Airtel? What is 'Nobel disease'? All answers here

Only no objection certificate given for NE SFB-Slice merger proposal: RBI

No change in approach to banking license to fintechs

Reliance Brands to acquire majority of Superdry's IP assets in India

In this JV, RBUK and Superdry will own 76 per cent and 24 per cent of the entity, respectively

Anil Agarwal's Vedanta to split biz into 6 companies to unlock value

For every share of the company, stockholders to get one additional share of each of 5 new entities

India's M&A deal value falls to lowest in the last five years, shows data

Deal value falls 69% in first nine months of 2023

M&As to pick up substantially as economy grows, says Moelis India CEO

India probably is the only market in the world where despite valuations being sticky and high, valuations haven't corrected as much, said Girotra

USA's PowerSchool acquires Indian edtech firm Neverskip for undisclosed sum

The deal will lead to the two companies creating a unified technology platform for school operations

MediBuddy raises $18mn in additional funding, to grow via acquisitions

A substantial portion of these funds will be meticulously channelled into strategic acquisitions and fortifying its existing offerings

NCLT approves Vedanta's acquisition of Meenakshi Energy at Rs 1,440 crore

Meenakshi Energy holds a substantial coal-based power plant generating 1,000 MW of electricity

Ananya Birla's Svatantra to acquire Navi Group's Chaitanya for Rs 1,479 cr

The acquisition is set to position Svatantra as the second largest NBFC-MFI in India, fostering a boost to microfinance reach and impact

Ambuja Cements to buy 56.7% stake in Sanghi at a valuation of Rs 5,000 cr

Ambuja Cements' acquisition of Sanghi Industries is expected to be completed in the next three to four months

Morgan Stanley profit drops 18% in second quarter as deal doldrums persist

Global M&A activity fell 36% in the second quarter versus a year earlier, according to Dealogic. Still, its climb from the first quarter has sparked hopes of a nascent recovery

Deal values plummet by 78% from Jan-Jun to $23 billion, says report

Deal making by India Inc has suffered severely due to economic challenges in the first half of this year, a report said on Tuesday. There were only 676 deals with an underlying value of USD 23 billion in the January-June 2023 period, 78 per cent down in value terms and a fall of 42 per cent in terms of volume, consultancy firm Grant Thornton Bharat said. Merger and acquisition activity suffered the most, with the values down 92 per cent to USD 6.685 billion, the report said, adding that there was a much higher base in the year-ago period which witnessed the mergers of HDFC-HDFC Bank and also LTI with Mindtree. "The first half of 2023 witnessed a decline in deal activity in India, primarily due to uncertainties causing supply chain disruptions, leading to inflation, and fluctuating interest rates," its partner Shanthi Vijeta said. Vijetha, however, feels more optimistic about the future quarters, given macroeconomic conditions, reduced market volatility, and stable interest rates.

India's announced M&A deals increase 5.2% YoY; reach above 1,400 in H1

Domestic M&A activity totaled $16.7 billion, down 83.2% from the same period in 2022. Inbound M&A fell 46.3% from a year ago and totaled $12 billion

India Banks: Merger of HDFC Bank with HDFC is a serious makeover

Of the two big changes expected this year, one has just occurred and created a juggernaut bigger than Morgan Stanley

Bausch + Lomb to buy dry-eye drug maker Novartis for $1.75 bn: Report

Acquisition of the drug, Xiidra, will mark the first big deal by CEO Brent Saunders since he returned to the company in March