Mergers News

The government Tuesday set the record straight on merger of public sector banks, saying any initiative has to come from the board of the banks concerned, and its role is that of a facilitator.

Private equity deals worth USD 1.19 billion were announced in February, registering a jump of 62 percent over the corresponding period last year, largely driven by big ticket investments, says a report

Corporate India's merger and acquisition (M&A) deal tally declined 18 percent to USD 30.43 billion last year even as the number of transactions saw an uptick to a three year high.

Majority of these deals were in the pharma sector, with six transactions totalling USD 1.5 billion, as Indian companies seek to increase their scale in the US generics market, said a report by Baker & McKenzie.

India may adopt an American-style mechanism where the head of the government has the authority to block or unwind mergers and acquisitions by foreign companies that could threaten national security.

Fair trade watchdog CCI has given its green signal for the Holcim-Lafarge merger deal that would create the world's largest cement group, while directing Lafarge to sell its two plants in India to address anti-competition concerns.

The government in October last year had ordered merger of National Spot Exchange Ltd (NSEL) with its parent firm Financial Technology India Ltd (FTIL).