Page 5 - Merger

Rs 2.1 trillion media landscape to hot up after Sony-Zee divorce

Zee's seemingly endless legal issues mean no foreign company is likely to show interest in the firm

Sunoco to buy NuStar Energy in $7.3 bn deal as it expands midstream biz

The equity portion of the deal comes up to $2.99 billion, and NuStar's shareholders stand to receive 0.400 of a Sunoco share for each NuStar unit they hold, valuing Sunoco's shares at $23.78

ZEEL spent Rs 366 crore on compliances for its now-failed merger with Sony

Zee Entertainment Enterprises Ltd (ZEEL) spent Rs 366.59 crore on compliances till September 2023 for its now-failed merger with Sony, which called off the deal on Monday. The company had spent Rs 176.20 crore in the financial year that ended in March 2023. Besides, it spent Rs 190.39 crore in the first six months of the current fiscal, according to a regulatory filing by the Subhash Chandra family-promoted media entity. After signing an agreement, ZEEL was racing to receive a series of regulatory clearances from SEBI, CCI, ROC, etc. It also got a go-ahead from the National Company Law Tribunal after receiving approvals from shareholders and creditors and closed all formalities for the merger. However, Sony Group Corp on Monday called off the USD 10 billion merger of its India unit with Zee Entertainment, following a stalemate over who will lead the merged entity, besides not satisfying other conditions for the merger. It sent a termination notice to Zee on the deal, which was ...

Sony notifies Zee Entertainment about its plans to call off the merger

Sony cited conditions of the merger agreement not being met as the reason for the termination, according to the letter seen by Bloomberg.

CCI approves proposed amalgamation involving Shriram Group entities

Fair trade regulator CCI on Tuesday cleared the proposed combination involving the merger of various entities of the Shriram Group. The proposed combination relates to the amalgamation of Shriram GI Holdings Pvt Ltd with Shriram General Insurance Company Ltd. Shriram General Insurance Company is a joint venture between Shriram Capital and Sanlam Ltd (South Africa). It is an Irdai-licensed company, offering a wide range of general insurance solutions. "CCI approves the proposed amalgamation of Shriram GI Holdings Private Limited with Shriram General Insurance Company Limited," the regulator said in a post on social media platform X. The competition watchdog also granted its approval to the proposal for the merger of Shriram LI Holdings Pvt Ltd with Shriram Life Insurance Company Ltd. Shriram Life Insurance Company is jointly promoted by Shriram Group and South Africa-based financial services firm Sanlam Group. The Shriram Group is one of the largest and well-respected financial ..

'Baseless, factually incorrect': Zee on reports of Sony calling off merger

'Zee is committed to the merger with Sony,' said the company in a BSE filing on Tuesday

Zee-Sony merger may be called off, termination notice to be filed by Jan 20

Discussions are still ongoing between the two sides and a resolution can still emerge before the deadline

Merger with Congress: YS Sharmila to meet AICC leadership in Delhi on Jan 3

Y S Sharmila, founder of YSR Telangana party, will travel to Delhi on Wednesday to finalise the merger of her party with the Congress, sources here said on Tuesday. Sharmila, who chaired her party meeting today, said she and other leaders will meet the top leadership of the Congress including AICC President Mallikarjun Kharge and Rahul Gandhi and make a "crucial" announcement in Delhi tomorrow. Sharmila is the daughter of former chief minister of undivided Andhra Pradesh, the late Y S Rajasekhara Reddy, and younger sister of Andhra Pradesh chief minister Y S Jagan Mohan Reddy. Sources told PTI that Sharmila will be given a post in Congress at the national level and is likely to be made in-charge of elections for Southern states after the merger of YSRTP with Congress. Everything will be clear in one or two days. Please be patient, she told reporters after the meeting, when asked. The Congress leadership assured Sharmila that her colleagues in Telangana will be suitably placed, the

Tata Coffee, Tata Consumer Products merger to be effective from January 1

Tata Coffee will merge with Tata Consumer, TCPL Beverages on January 1, the company said in its exchange filing on Thursday

Zee, Sony enter into discussion on extension of deadline to complete merger

Sony Group Corp and Zee Entertainment Enterprises Ltd have entered into a discussion to extend the deadline for merging their India operations, keeping hopes alive of creating a $10 bn media behemoth

Why large consumer brands have a lot at stake in Disney, Sony deals

The first of these two transactions may come as early as Monday and would see Walt Disney Co. enter into a non-bidding agreement with Mukesh Ambani to merge their media businesses in the country

Woodside in talks with Santos to form $52 billion Australian gas giant

Santos says it's exploring a range of alternative structural options

L&T Finance announces completing merger of 3 subsidiaries with itself

Merger will create "sustainable value" for stakeholders and help governance, says NBFC

Sony-Zee merger risks collapse ahead of its deadline over CEO drama

Zee is insisting that its Chief Executive Officer Punit Goenka - also its founder's son - will helm the new entity, as agreed in the pact signed in 2021, while Sony is wary of his appointment

Zee-Sony India merger talks stall over disagreement on leadership: Report

A failure to reach an agreement on leadership by December 21 may derail the merger, a news report said.

Microsoft-Activision takeover emboldens merger traders to boost rally bets

The traders that wager on these deals, known as merger arbitrageurs, aren't confident that every announced acquisition will happen, but are growing more hopeful about many

Neuberg Diagnostics completes ARL, Supratech merger, IPO in works

Neuberg Diagnostics Pvt Ltd has completed the merger of Neuberg Supratech Reference Laboratory, Ahmedabad, and Neuberg Anand Reference Laboratory, Bengaluru, thereby setting the ball rolling for its IPO plans, the company said on Wednesday. With a strategic vision to streamline operations and enhance efficiency, the merger brings together two entities under Neuberg Diagnostics Pvt Ltd. The merger also paves the way for Neuberg Diagnostics' launch of its Initial Public Offering (IPO) by 2024 or 2025, a company statement here said. "This merger marks a significant step forward in our journey to provide unparalleled healthcare solutions. By integrating these renowned laboratories, we reinforce our commitment to delivering excellence in diagnostics and patient care," said Neuberg Diagnostics Chairman and Managing Director GSK Velu. As a result of the acquisition, the group gross revenue of Neuberg Diagnostics is expected to be over Rs 1,000 crore during the current financial year. The

CCI approves Air India-Vistara merger, subject to certain conditions

CCI has not issued an order on this matter yet. As per official sources, it is expected to issue an order after one month

NCLT approves Zee Entertainment-Sony India merger, dismisses all objections

In December 2021, Zee Entertainment and Sony Pictures reached an agreement to combine their businesses, and both companies approached the tribunal to seek approval for the merger

HDFC Bank to replace HDFC Ltd on MSCI Global indexes from July 13

Still, HDFC Bank's shares are up 2% so far this year, while HDFC's shares have gained 5%, but are both underperforming the blue-chip Nifty 50, which is up 6.8%