ABG Shipyard To Compete Bharati For Great Offshore - Ship building firm ABG Shipyard is getting ready to counter the offer price of rival Bharati Shipyard to acquire offshore drilling company Great Offshore. ABG is expecting Sebi approval soon in favour of its open offer. Last month, Bharati Shipyard acquired 3.01% stake in Great Offshore from the open market through its arm Dhanshree Properties. With the latest acquisition, Bharati Shipyard along with its group firm now holds 22.48% stake in Great Offshore. Meanwhile, ABG Shipyard holds 8.28% stake in Great Offshore. (BS)

L&T To Raise Rs 2,400 Cr Via Securities - Engineering major Larsen & Toubro (L&T) has got approval of its shareholders to raise up to Rs 2,400 crore ($600 million) through issue of securities on a private placement basis. The company will raise the funds by way of qualified institutional placement of securities, including shares and debentures. The QIP issue shall be completed within 12 months from the date of its annual general meeting, which was held on August 28, 2009. (Business Standard)

GE Capital To Invest in Max Healthcare – GE Capital, the financial arm of US-based General Electric, is in the fray with two other funds to invest in Max Healthcare. Max Healthcare plans to raise as much as Rs 300 crore by selling shares. If the deal happens Max Healthcare could delay its planned initial public offering. A UBS affiliate and a Singapore-based fund are said to be interested in the investment. The money would be used to fund new projects and expansion. (Economic Times)

Bharat Forge To Raise 720 Cr - Pune-based auto component maker Bharat Forge plans to raise $150 million (nearly Rs 720 crore) through various fund raising routes. The company seeks shareholders’ nod to raise the money by way of issuing bonds, debentures or through global depository receipts. (BS)

Duncans Industries To Sell Its Fertiliser Division - Almost a year after it made an abortive attempt to dispose of the fertiliser business to a private equity fund, sick Duncans Industries has begun negotiations with three domestic players to sell its fertiliser business, entirely or partly. Company chairman GP Goenka, said that the negotiations were on for either the outright sale of the fertiliser division or to turn it into a 50:50 joint venture. The company is expecting to wrap up the deal by the end of this fiscal. (Hindu Business Line)

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