Mergers And Acquisitions

Mergers & acquisitions make a comeback in 2024, up 13.5% till November

Bankers anticipate deal-making to remain robust in 2025 with several marquee deals in the making

InsuranceDekho merger to create new leader in segment, says RenewBuy

Reports have indicated that InsuranceDekho is in advanced talks to merge with RenewBuy in a cash-and-stock deal, which could value the combined entity at Rs 8,000 crore

More than 140 systems integrated ahead of Air India-Vistara merger

More than 140 systems have been integrated and 2.7 lakh reservations made by Vistara passengers have been moved to the Air India system, ahead of the two airlines' merger next month. Air India's Chief Digital & Technology Officer Satya Ramaswamy on Tuesday said significant efforts are being made to comprehensively address Vistara customers' experience across all digital systems post-merger. At a select media briefing, he also said that 2.7 lakh reservations made by Vistara passengers have been moved to Air India, and more than 140 systems have been integrated. Among others, more than 4.5 million loyalty members of Vistara have already migrated to the Air India system. "On the technology side, the Air India systems are at a different level... that is the system the customers will use. The Vistara experience in other areas like aircraft and services will be the same... we will take the best from both airlines," Ramaswamy said. Last week, Air India said Vistara routes and schedule as

Real estate transactions fall by 71% in 2024Q3; what's driving the decline?

The sharp fall in transaction value can be attributed to the absence of large-scale deals, said the Grant Thornton report

India M&As back in action, up 14% in the first nine months of 2024

Gujarat Gas' acquisition of Gujarat State Petronet for $3 billion was the third-largest acquisition in the country

Apollo Global proposes $5 billion investment in troubled chipmaker Intel

Apollo Global management's proposed investment signals confidence in Intel's turnaround, as the chipmaker struggles with costly transformation efforts

CCI's M&A overhaul: Stricter scrutiny, faster approvals under new rules

Revised framework introduces deal value thresholds, streamlined timelines, and wider definition of control for enhanced regulatory oversight, writes Dhanendra Kumar

NCLT recalls order on Zee-Sony merger, allows withdrawal of scheme

The National Company Law Tribunal (NCLT) has allowed withdrawal of its order approving the merger of Zee Entertainment and Sony Pictures Networks India and recalled its earlier order passed in this regard. The Mumbai bench of the NCLT had last week recalled its order passed on August 10, 2023, in which it had approved the merger of Zee Entertainment with Sony Pictures Networks India. The bench observed the parties have "mutually consented" to withdraw the scheme on account of the settlement agreement and the board of directors has passed the resolutions to withdraw the scheme of amalgamation. "Accordingly, this Bench allows the withdrawal of the Scheme of Amalgamation and hereby recalls order dated 10.08.2023 in C.P.(CAA) No. 209 of 2022," said NCLT order, a copy of which was shared to bourses by Zee on Thursday. Zee, which applied for withdrawal, submitted the Composite Scheme of the Merger Cooperation Agreement executed to give effect to this scheme stands terminated and accordin

New rules for mergers involving foreign firms announced: What this means

Latest amendments introduced by the Ministry of Corporate Affairs require companies to receive prior permission from the Reserve Bank of India for mergers and acquisitions

Blackstone close to $13.5 billion deal to acquire Australia's AirTrunk

A deal hasn't been finalized and terms could change as talks continue, the people said. Representatives for Blackstone, Macquarie and PSP declined to comment

Zee, Sony amicably settle disputes over failed merger, withdraw claims

ZEEL's stock price rose to Rs 154.9 per piece on NSE during the day and closed at Rs 150.9 per piece, which was still 10 per cent higher than the previous day's closing price

US oil, gas M&A activity rose 57% in 2023 as industry consolidated: Report

The jump in spending on dealmaking and expanding reserves marks a shift in strategy following a years-long focus on shareholder returns over growth, which many firms had employed

Adani-led Ambuja Cements completes acquisition of Penna Cement Industries

Ambuja Cements' board of directors had approved the acquisition of 100% stake in Penna Cement at an enterprise value of Rs 10,422 crore in June, expanding the firm's southern footprint

CCI to soon come out with changes to competition rules: Chairperson

Fair trade regulator CCI will shortly come out with changes to certain competition rules, including those related to green channel approvals for mergers and acquisitions. Speaking at a conference in the national capital, Competition Commission of India (CCI) Chairperson Ravneet Kaur on Friday said the regulator is focusing on advocacy efforts and capacity building. While mentioning about various activities being done by the CCI, she said, "We are going to shortly notify changes in competition rules". These include changes to rules pertaining to green channel approvals for mergers and acquisitions, and de minimas. De minimas relates to exemption thresholds for mergers and acquisitions that need clearance from the CCI. As part of boosting efforts to curb unfair business practices in the marketplace, amendments have also been made to the competition law. Kaur flagged dark patterns in the e-commerce space and algorithmic collusion. There are dark patterns and how they can influence

UltraTech Cement offers to acquire 31.6% in UAE-based RAK Cement Co

Aditya Birla group firm UltraTech Cement on Monday said it has made an offer to acquire a 31.6 per cent stake in UAE-based RAK Cement Co for White Cement and Construction Materials PSC (RAKWCT). This would be done by UltraTech Cement Middle East Investments Ltd (UCMEIL), a wholly-owned subsidiary of the Indian cement maker in the UAE. On April 15, UltraTech had informed that UCMEIL will invest in 29.39 per cent equity share capital of 'Ras al Khaimah Co. for White Cement and Construction Materials PSC' (RAKWCT), a company listed on the Abu Dhabi stock exchange. It had announced and investment of USD 101.10 million (around Rs 839.52 crore) for a 29.39 per cent equity that time. "We now write to inform you that UCMEIL has notified its intention of making a partial conditional cash offer for acquiring 158,049,610 shares, representing 31.6 per cent of the issued and paid-up share capital of RAKWCT," it said. This will be in accordance with Article 10 of the decision of the chairman of

Sebi's new guidelines on mkt rumour to help in fair pricing of M&A: Experts

Sebi's new guidelines for managing stock price impact arising from market rumours will ensure that the share price used in the merger and acquisition (M&A), buyback, and other transactions are not artificially influenced by speculative market activities, experts said on Wednesday. Market rumours pertaining to a company's business can create significant volatility in stock prices, often leading to transactions that don't reflect a company's true value. This market rumours could be related to anything, including exiting of top management, cancellation of an order and financial health. "Sebi's framework addresses this issue by establishing a mechanism to determine the unaffected price -- the price of a stock before the rumour surfaced. "This price would be used for transactions unless the rumour itself caused price fluctuations in subsequent trading days," Trivesh, Chief Operating Officer of Tradejini, said. In its circular on Tuesday, Sebi outlined the framework for calculating the

Market regulator Sebi offers shield against M&A stock price disruptions

Framework part of rumour verification norms that kick in from June 1; Industry awaited detailed rules

India leads Asia-Pacific region's M&A deals in Q1 2024: S&P Global

The number of deals closed in Q1 of 2023 is one more than the previous year

Value of mergers and acquisitions at lowest level in at least 76 months

With 98 deals, the total value of M&A stood at $1.8 billion. In the same month last year, the value was $8 billion across 204 deals

What makes engineering R&D space a target for mergers and acquisitions?

Infosys' acquisition of Germany-based in-tech is the 15th top deal so far