Mergers & Acquisitions
Infosys counter Offer May Be At 720 Pence – Infosysmay come up with a one-time offer to surpass HCL’s offer to acquire London-based Axon, by offering 720p, reports Economic Times. HCL made an offer of 650p as against Infosys offer of 600p.
Birla May Pick Up Half of Hindalco’s Rights Issue – Aditya Birla group may pick up 50% of group company Hindalco Industries Ltd’s rights issue by buying the unsold shares. The Rs 5,024 crore rights issue closes on October 10. The rights issue is to repay the loan taken to fund the Novelis acquisition, reports Mint.
HTMT Global Prepares $100 M Warchest – The outsourcing arm of the Hinduja group has a $100 million kitty for domestic as well as international acquisitions. HTMT has a presence in six countries with around 75 clients, 21 centres, 9,600 seats and 12,652 employees, Hindu Business Line.
TCS To Acquire Siemens Arm – India’s top software services exporter is eyeing Siemens’ IT Solutions and Services (SIS) unit, ET quoting a German newspaper. The talks are scheduled to be held next week. The German co is going through a major overhaul and regrouped
its divisions into three main sectors to benefit from global growth trends — energy, industry and health care.
TeliSonera Acquires Spice Nepal For $484 M – In Nepal’s biggest inbound deal, Nordic telecom operator TeliaSonera AB has acquired an 80% stake in Spice Nepal, the country’s second largest mobile phone operator with 1.6 million subscribers. The size of the deal is $484
Reliance Cap’s ARC Unit To Acquire Rs 250Cr of Bad Assets – Reliance Asset Reconstruction Company plans to acquire bad assets of about Rs 250 crore in the next six months. The average acquisition size would be Rs 20 crore, reports Financial Chronicle.
Sanghi Promoters Heading For Split – Sanghi Group, which has two listed entities – Sanghi Industries Ltd, that runs cement business, and Sanghi Polyesters Ltd – is headed for a split as the four brothes are demanding their own 25% stakes. The valuation for the businesses, which also includesa print media, spinning and zip fasteners, has been started, reports Mint. Around quarter of the stake in Sanghi Industries is held by British Virgin Islands-based investment fund
Indian Railway Finance IPO To Raise Rs1,000 crore – The leasing and financing arm of Indian Railway Finance Corp. Ltd, is to raise Rs 1,000 crore through its IPO. Though the Railway Board has started processing papers but the IPO will only be when the market situation
becomes friendlier, reports Mint.