WHAT IS MERGERS AND ACQUISITIONS
Inside the rise and fall of Indian Twitter rival Koo
Koo, the Indian social media platform aiming to rival Twitter, has closed down due to unsuccessful acquisition negotiations. The company struggled with funding challenges and workforce reductions amidst a competitive landscape.
Indian companies have made a comeback. Will MNCs be able to do it ? 7 MNC pharma stocks with upside potential of up to 21%
While they still trade at premium valuations, they have not created wealth for shareholders. The fact is an age-old theory that just having a MNC stock in your portfolio is an assurance of growth and return no longer holds true. There was a time when having MNC stock, irrespective of the sector it was from, was a must have in one's portfolio. The reason: liberal at giving bonuses, dividend payments were good and given the fact some of them actually owned the best of the brands which had seen a secular growth due to which they were also able to deliver decent returns to shareholders. But after the IT bull of 2000, as a new set of Indian companies took the centerstage, a number of MNCs stocks lost their shine at least on the street. In the last few years, a number of pharma companies have been putting their house in order, either due to global merger and selling a part of Indian business to focus more on core products.
Facing an unprecedented slowdown, IT companies are undergoing a shift. Here’s what’s changing
IT companies like TCS, HCLTech, Wipro and Tech Mahindra are reorganising their businesses to wade through disruptions and prepare for Gen AI. TCS, under new leadership, merged AI and cloud operations into a unified AI.Cloud unit, responding to growing demand in cloud migration and transformation services.
Mankind Pharma scouts for M&A deals to boost local branded biz
Mankind Pharma, the fourth-largest pharmaceutical company in India, led by Rajeev Juneja, is seeking mergers, acquisitions, and in-licensing deals to enhance its branded formulation business.
Warren Buffett play: 6 things to consider before investing in Special Opportunities Fund
Special Opportunities Fund (SOF) is an investment fund capitalizing on unique opportunities below intrinsic value, inspired by Warren Buffett. WhiteOak Capital Mutual Fund and Samco Mutual Fund have launched similar funds. Alekh Yadav, Head of Investment Products at Sanctum Wealth, highlights the fund's strategy. Investors should consider the differentiated offerings and track record, with high-risk appetite recommended for SOFs.
Restructuring impacts even the smallest player: 5 not so much talked about PSU banks
When it comes to PSU banks, all the limelight is taken by the top players, like SBI, BoB, PNB and one or two others. But the fact is that there are many other small PSU banks, which of course have smaller books and less of national presence, but the fact is that they have been also the beneficiary of the “ reconstruction and restructuring" (R&R) which both government and RBI have done in the banking sector in the last seven years. The good part of any R&R exercise in banking is that all the players whether it is small or large have to follow the rules and that ensures that the operating matrix improves across the sector and which leads to long term beneficial impact. We take a look at 5 small PSU banks, which are not normally in news, but over years they have also seen an improvement in their working. Yes, they have their own risks in terms of loan book and other business risk, but then because they are under owned in institutional space, a bit of institutional buying can lead to sharp re-rating.
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Bain teams up with Temasek to compete with Blackstone-led consortium for controlling stake in Haldiram's
The Bain and Temasek combination submitted a non-binding offer late last week valuing India’s largest snack and convenience foods company at $8-8.5 billion (Rs 66,400-70,500 crore), after initially engaging with the founding family of the 87-yearold brand separately, said people aware of the matter.
LTIMindtree's plan is to grow revenue to $10 billion: CEO Debashis Chatterjee
LTIMindtree aims to reach $10 billion revenue by 2030 through organic growth and acquisitions. Despite challenges in market conditions, the company focuses on strategic changes to drive growth and improve margins.
Coforge’s $220-m Cigniti acquisition biggest, but not disproportionately bigger: CEO Sudhir Singh
Coforge's $220 million acquisition of Cigniti under CEO Singh's leadership aims to expand into new verticals, add fortune-500 clients, and strengthen North America market. Past acquisitions and focus on organic growth indicate a strategic approach to growth.
Coforge’s Cigniti acquisition a game-changer, will be EPS accretive from day one, says CEO Sudhir Singh
Sudhir Singh of Coforge outlines the strategic benefits of acquiring Cigniti, focusing on revenue growth, market expansion, and confidence in successful integration based on past acquisition achievements and team capabilities. Singh says: "Our intent is to raise roughly about $250 million and we will acquire between 51% and 54% of the promoter stake through a QIP."
It’s incredulous Tatas didn’t anticipate Vistara pilots' response
It's hard to believe that the Tatas, known for smooth mergers and layoffs, didn't foresee the Vistara pilots response, fueling conspiracy theories. The Tatas may have overlooked a strategic opportunity by not managing the airline business as part of a broader portfolio, particularly with Vistara as a key asset. Instead of being solely fixated on reviving the Maharaja's legacy driven by emotion, a more rational brand approach could have been beneficial.
What's Donald Trump worth? A look at his assets and income
Trump said in the Truth Social post on Friday that he has “almost five hundred million dollars in cash.” In an April 2023 deposition with New York Attorney General Letitia James he said he had “substantially in excess of 400 million in cash.” That number has gone up from Trump’s previous disclosures.
Sportz Interactive eyes $15-20 million revenue in FY24
Sportz Interactive has partnerships with major sports organisations like F1, UEFA, IOC, NBA, MLB, and UFC. In India, the company works with the BCCI, IPL teams, sports broadcasters, and gaming companies.
RIL-Disney merger: A Starlit Jiography
Nita Ambani, chairperson of the proposed Star India-Viacom18 merged entity, enters the glitzy world of media as a formidable contender, associated with IPL franchise Mumbai Indians, grassroots sports development, International Olympic Committee, and East India Hotels board. Ready to clash with Sony, Netflix, and Amazon's Prime Video.
From September to a shaadi: How Disney found a new home for Mickey Mouse in India
The genesis of the Reliance Disney negotiations was in the fall of 2023 but it gathered momentum after Walbrooke visited the Reliance Mumbai office in October followed by Kevin Mayer and Manoj Modi catching up just before Christmas at the Ambani residence in Stoke Park, London, to shake hands and sign a non binding term sheet with a February 17th deadline.
ATC India buyout to lend more ammo to Canada's Brookfield to fight Indus Towers
The recent $2.5-billion buyout of American Tower Corp’s India unit by Canada’s Brookfield will give them more firepower to compete with Indus Towers. Both tower companies are expected to offer new products and aggressive rental deals while negotiating long-term tower contract renewals. This consolidation will result in two dominant towercos in the 3-player telco market, ensuring an overall balance in pricing power. Brookfield's acquisition of ATC India will also boost Reliance Jio's 5G rollout. The combined tower assets of Brookfield and Indus will account for 80% of the sector's tower assets in India.
Sony-Zee merger deal hits a dead end: Sony confirms termination of $10 bn deal with Zee Entertainment
Zee-Sony merger: Sony on Monday confirmed sending termination notice to Zee Entertainment, ending proposed $10 billion merger in India. The merger aimed to create the largest media giant in India. Sony and Zee had signed definitive agreements in December 2021, but the merger remained incomplete due to regulatory investigation and legal suits. Sony served the termination notice after the End Date passed and the parties failed to agree on an extension. The termination notice was issued on January 22, 2024.
Wondrlab acquires Polish digital agency
Wondrlab acquires WebTalk, a Polish agency, in a cash and equity deal. WebTalk receives a stake in Wondrlab, with undisclosed financial details. The acquisition benefits WebTalk clients by providing access to Wondrlab platforms. This is Wondrlab's fifth acquisition and the largest to date. Wondrlab plans to make 26 acquisitions, having raised $7 million. The company targets a revenue of Rs 200 crore and has launched its European hub. Jarek Ziebinski is appointed Chairman of the Supervisory Board of the European Hub.
Sony on the brink of terminating $10 billion merger with Zee: The inside story of what went wrong over two years
Sony is planning to officially send a termination notice to Zee by this month end, maybe as early as January 22nd, said two people aware of the matter, unless Zee relents on key clauses. Sources close to Zee said most operational CPs have been "cured" while some joint ones are pending from both sides and those linked to the actual consummation of the merger will happen on deal closure.
Why the birth of a $10 bn media & entertainment behemoth still buffering up
A merger deal between Japan's Sony group's Indian arm (Culver Max Entertainment) and Zee Entertainment Enterprises that will create a $10 billion media giant faces obstacles. The merger's deadline, originally set for December 21, 2023, may be delayed by several months as Zee requests Sony for an extension. The merger deal was inked on December 22, 2021.
Grant Thornton could add nearly two dozen senior executives to assist companies on M&A deals
The number 5 ranked auditor has signed up with executives from some of the Big four accounting firms such as PwC and KPMG but is yet to announce the hiring as the people are still serving out their contracts at existing employers.
Several mergers and acquisitions on halt as India Inc checks tax liabilities amid increasing GST notices
Several mergers and acquisitions (M&As) are understood to have been delayed or put on the backburner as tax experts assist companies in figuring out the impact of GST on proposed deals.
Small finance banks thinking big likely to switch on the M&A mode
AU Small Finance Bank's move to acquire Fincare Small Finance Bank may encourage others to explore inorganic opportunities, industry captains believe, as bigger balance sheets would put them on a stronger platform to take on their bulge-bracket rivals, especially when it comes to mobilising public deposits.
India is the shining star of Asia now: Tyler Dickson, Investment Banking Head, Citi
India has experienced strong merger and acquisition (M&A) activities and a flourishing IPO market in 2023, making it a shining star in Asia, according to Tyler Dickson, head of investment banking at Citi. He believes that India offers attractive opportunities for both domestic and international clients, despite tighter liquidity conditions.
Adani’s $3.5 billion Ambuja loan moves ahead after some banks get approval
Barclays, Deutsche Bank, and Standard Chartered have obtained internal approval to lend about $250 million each as part of a larger syndicated loan of $3.5 billion to refinance debt taken by the Adani Group for its acquisition of Ambuja Cements. Some institutions are also in talks to lend $400 million each, potentially making it one of Asia's largest loan deals this year. The deal signals progress for Adani Group in overcoming allegations of malfeasance made earlier this year.
M&As in the time of digital economy
Earlier this month, CCI released draft regulations on combination for public consultations, seeking comments till September 25. This is the first such upgradation in combination regulations since 2011. As per these regulations, approval of CCI would be mandatory for all transactions beyond the ‘deal value’ threshold of Rs 2,000 crore.
After Credit Suisse takeover, UBS gives first glimpse of new group
UBS is set to release its first earnings report since acquiring Credit Suisse, providing insight into the impact of the deal. The report will include a separate disclosure for Credit Suisse, revealing the extent of damage to its standing and wealth management arm. Analysts will also be looking for signs of clients leaving UBS, as some may move their money elsewhere to mitigate risk. UBS's decision on what to do with Credit Suisse's Swiss arm is eagerly awaited, with options including spinning it off or fully integrating it. Job cuts and the size of the restructuring program will also be closely watched.
The great M&A slump is shaking up giants of investment banking
Top investment bankers across the industry have been leaving big banks such as Goldman Sachs and Credit Suisse to join smaller rivals. The heightened departures come as hedge funds have cut large portions of their trading commissions. While large banks struggle from economic struggles, global political tensions and low revenue, lower-ranked banks like Deutsche Bank and Santander are seeing a chance to poach top talent.
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