31 May 07 Vijay Mallya to acquire Deccan Aviation?
There are rumours that Vijay Mallya, founder of Kingfisher airlines, is planning to takeover Air Deccan (Deccan Aviation). Because of these rumours, Deccan Aviation spurted 14% in mid day trading to Rs. 150. If kingfisher airlines is merged with Air Deccan (Deccan Aviation), it would argur well for the shareholders of both airlines.
29 May 07 GMR Infrastructure acquires GMR Aviation
GMR Infrastructure has informed the stock exchanges that it has acquired GMR Aviation Pvt Ltd, which is engaged in the business of rendering aviation services. Hence GMR Aviation has become the subsidiary of GMR Infrastructure. The effective date for the same is 28 May 2007. GMR Aviation may come out with a public issue in the future.
21 May 07 Sun Pharma to acquire Israel’s Taro Pharmaceutical Industries
Sun Pharma’s shares were up by about 3% to Rs. 1045 after the markets learnt about Sun Pharma’s acquisition of Israel’s Taro Pharmaceutical Industries. Sun Pharma had made the announcement that it was looking to acquire Israel’s Taro Pharmaceutical Industries, before the opening bell on Monday. Hence the Sun Pharma counter witnessed renewed buying interest as soon as trading began on Monday.
09 May 07 Dena Bank Acquistion : Canara Bank looks to acquire Dena Bank
Bangalore based Canara Bank is looking to acquire Mumbai based Dena Bank. Canara bank had earlier appointed Ernst and Young, a BIG 4 accounting firm, to advise them on this acquistion. Sometime back, Finance Minister Mr. Chidambaram had advised government owned banks to go in for mergers so that it would create much stronger banks which could compete globally with international banks. I feel this is the way to go, since if we look at the data, there is no Indian bank figuring in the list of top 50 banks, internationally. Bigger banks will enjoy economies of scale and also reduction in operating expenses. Labour Unions have opposed banking mergers to serve their interests. The left parties are also opposing mergers in the banking industry. In India, politics has always managed to stay ahead of economics. Let’s wait and watch the drama unfolding. Good luck to Canara Bank!
09 May 07 Ranbaxy acquires Be-Tabs Pharma
Ranbaxy Laboratories informed the Indian Stock Exchanges that, on May 08, 2007, it received an approval from South Africa’s Competition Commission to acquire Be-Tabs Pharmaceuticals. The Be Tabs pharmaceuticals acquisition is valued at Rs. 50 crores and it would enable Ranbaxy Laboratories to become the fifth largest generic pharmaceutical company in South Africa.
