Page 3 - Mergers & Acquisitions

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

Not so keen on any other new acquisitions: Tata Steel CEO Narendran

Tata Steel - which is in an expansion mode in India - is not so keen on any other new acquisitions, the company CEO T V Narendran has said. The statement from Narendran has come amid Vedanta Ltd reviewing and evaluating its steel and steel-making raw materials businesses. In June, Vedanta Ltd said it will immediately begin the review and evaluate a broad range of options including potential strategic sale of some or all of its steel businesses. "Not so keen on any other new acquisitions... We don't need it," Narendran said in a reply to a question on his company's interest in buying Vedanta Ltd's steel business. There is a lot to do at Tata Steel's existing sites, he added. The company has a plan to scale up its annual installed steel making capacity to 40 million tonnes per annum (MTPA) by 2030 in India, from around 22 MTPA at present. In June 2018, Vedanta Limited acquired Jharkhand-based steel company ESL Steel Limited through an insolvency resolution process. The company set

Global mergers & acquisitions plunge in Q2 but dealmakers see green shoots

NEW YORK/LONDON (Reuters) -Global mergers and acquisitions (M&A) activity fell 36% year-on-year in the second quarter, but investment bankers and lawyers expressed optimism that the stock market's recovery will gradually restore chief executives' dealmaking confidence.

Veteran corporate lawyer Rajiv Luthra passes away: A look at his legacy

A first-generation lawyer, Rajiv Luthra set up the law firm Luthra and Luthra in 1989. The firm burnished its reputation by pioneering taxation and corporate law in India

Easy Trip Planners in-principally approves acquisition of certain entities

The board also approved the appointment of legal advisers, merchant bankers, tax consultants, and other professionals

Chat platform Discord acquires compliments-based social media app Gas

Chat platform Discord has announced that it is acquiring Gas, a poll-based social application that allows users to share compliments with one another

Mark Zuckerberg takes witness stand in FTC case against startup acquisition

Mark Zuckerberg, the CEO of Facebook parent company Meta, took the witness stand Tuesday in the FTC's effort to stop the tech giant from buying a virtual reality startup. At issue is whether Meta's acquisition of the small company that makes a VR fitness app called Supernatural will hurt competition in the emerging virtual reality market. If the deal is allowed to go through, the Federal Trade Commission argues, it would violate antitrust laws and dampen innovation, hurting consumers who may face higher prices and fewer options outside platforms controlled by Meta Platforms Inc. The case, expected to wrap up Tuesday, is being heard by U.S. District Judge Edward Davila, who also oversaw the trial of disgraced Theranos founder Elizabeth Holmes and her partner Ramesh Sunny Balwani. Both were sentenced to over a decade in prison for their roles in the company's blood-testing hoax.

Year In Review: From Twitter to HDFC Ltd, successful M&As of 2022

The level of M&A activity in 2022 was in line with recent pre-pandemic levels

JK Paper jumps 4% on acquiring majority stake in Horizon Packs and SPPL

The shift in consumer preferences are driving demand for superior quality, eco-friendly packaging, JK Paper said.

M&As to drive hospital expansion in uncharted territory, say experts

Inorganic expansion gives instant market share in a new geography, greenfield works better in markets where a chain already has a presence, say industry players and analysts

A chapter ends: Penguin merger with Simon & Schuster stalled

The win in the book publisher case comes after DoJ's antitrust lawyers lost three challenges in a row, though some of those cases are now being appealed

We won't make an acquisition just because we have to: Piramal Pharma chief

In a Q&A, Nandini Piramal, chairperson of the firm, says the company currently sees great scope in expanding and organically growing the OTC business, and wants to build more consumer focused brands

M&A activity touches all time high in 2022, 58.2% higher than 2021: Report

In Private-Equity (PE)-backed M&A activity, India crossed China for the first time since 2008 accounting for 28 per cent of the market share as compared to China's 24 per cent

I-banking fees dip in nine months to September as smaller deals dominate

Even some big-ticket deals such as the LIC IPO did not generate higher fees

WPP acquires remaining 26% stake in MediaCom from Balsara family

Deal size not known immediately, marks the exit of the Balsaras from the agency

CCI needs to be abreast of global best practices on mergers: FM Sitharaman

Finance Minister stressed upon the need for the federal competition watchdog to communicate more

Target, acquirer, board of directors: Understanding a hostile takeover

While some people refer to Adani's acquisition of a stake in NDTV as a hostile takeover, others disagree. Read more to find out what a hostile takeover is

Consumer base, user data likely to determine CCI scrutiny of digital M&As

Significant business operation is a key condition to impose deal-value criteria proposed in the Competition Bill, targeting global digital mergers and acquisitions

Top Headlines: 5G spectrum bids on Day 1, IMF cuts India's GDP forecast

The opening day of the biggest telecom auction in the country ended with top telecom firms buying spectrum worth more than Rs 1.45 trillion across frequency bands including 5G

Mergers & acquisitions on rise as startups diversify into newer spaces

The second half of 2022 will see further consolidation as established start-ups look for M&A opportunities at attractive valuation to increase market share