Demand is slowing down, addressable market of various businesses are shrinking, competition has intensified, business sentiments are low, world’s biggest economies are in recession and market valuations are at historic lows—seriously, the time has come to witness history’s biggest consolidation phase. We intend to re-start our blog to track the M&A and PE related events in India and in the world which will have likely impact on India. Keep visiting.
Thursday, March 26, 2009
Novartis Offers To Buy 39% More Of India Unit At INR351/Share
Swiss drug maker Novartis AG (NOVN.VX) Wednesday made an open offer to acquire an additional 39% stake in its Indian unit, Novartis India Ltd. (500672.BY), from public shareholders at INR351 a share. Novartis is looking to raise the stake in its Indian unit to nearly 90% from the current level of 50.9%, the company said in a statement. The offer is expected to open in May, it added. At least a 90% stake will allow the company to delist the unit.
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