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Posted Date : 24-May-2019 , 09:51:59 am | Posted By CASANSAAR
Punjab National Bank (PNB) may be centre of the next round of PSU bank merger in September where the Delhi-based lender could take some smaller PSU banks under its ambit. The names of Syndicate Bank, Oriental Bank of Commerce, Andhra Bank and Allahabad Bank are being considered for the merger. So...
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Posted Date : 30-Apr-2019 , 09:28:15 am | Posted By CASANSAAR
The government is soon likely to invite select lenders for discussion on a second round of merger in public sector banks, according to a finance ministry official. The lenders to be called may include Punjab National Bank (PNB), Union Bank of India and Bank of India (BoI). “W...
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Posted Date : 16-Apr-2019 , 11:06:39 am | Posted By CASANSAAR
State-owned Bank of Baroda (BoB) is likely to complete the process of merger of Dena Bank and Vijaya Bank with it in two years, said a senior official of BoB. The merger of Dena Bank and Vijaya Bank with BoB became effective from April 1. Information technology platform integration alone will tak...
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Posted Date : 06-Apr-2019 , 08:24:48 am | Posted By CASANSAAR
The board of Lakshmi Vilas Bank on Friday approved the merger of the private sector lender with Indiabulls Housing Finance (IBH) through a share swap deal. The merger will help Indiabulls get access to low-cost stable funds and an entry into banking. The company, the nation’s second largest ho...
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Posted Date : 21-Feb-2019 , 08:23:57 am | Posted By CASANSAAR
Bank of Baroda on Wednesday said the merger of Dena Bank and Vijaya Bank with itself would be effective from April 1 as per the scheme of amalgamation approved by the government. Besides, the board of the bank fixed March 11, 2019, as record date for issuing and allotting equity shares of the Ban...
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Posted Date : 02-Jan-2019 , 06:32:49 pm | Posted By CASANSAAR
Bank of Baroda announced on January 2 the fair equity share exchange ratio for shareholders of Vijaya Bank and Dena Bank. According to a release filed with the exchanges, Bank of Baroda said Vijaya Bank shareholders will receive 402 shares of BoB for 1,000 shares held of Vijaya Bank. Dena Bank&rs...
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Posted Date : 12-Jul-2018 , 07:48:17 am | Posted By CASANSAAR
Telecom Minister Manoj Sinha today said that the Government has approved the Idea Cellular and Vodafone India merger but the companies need to complete some formalities for the final closure of the deal. The combined operations of Idea and Vodafone will create the country's largest telecom op...
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Posted Date : 10-Jan-2018 , 08:55:26 am | Posted By CASANSAAR
National Company Law Tribunal has approved the proposed demerger scheme of Emaar MGF Land Ltd that will pave the way for joint venture partners Dubai's Emaar Properties and India's MGF Development go separate ways. Approving the scheme, the tribunal said the "liabilities and duties&q...
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Posted Date : 23-Feb-2017 , 10:45:25 pm | Posted By CASANSAAR
In the largest consolidation exercise in the banking history of India, all the five associate banks will merge with State Bank of India, SBI, from the first of April. The bank said in a regulatory filing that the assets of State Bank of Bikaner and Jaipur, State Bank of Mysore, State Bank of Travanc...
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Posted Date : 16-Feb-2017 , 08:01:15 am | Posted By CASANSAAR
Seeking to create a global-sized bank, the Cabinet on Wednesday gave the go-ahead to the merger plan of SBI and its five associates, a step aimed at strengthening the banking sector through consolidation of public banks. However, no decision was taken on the proposal to also merge the Bharatiya M...
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Posted Date : 14-Jun-2016 , 08:30:08 am | Posted By CASANSAAR
Microsoft Corporation will buy LinkedIn Corp for $26.2 billion in its biggest-ever deal announced on Monday, giving the world’s biggest software provider access to an online network of 433 million professionals. Microsoft will pay $196 per share in an all-cash transaction, a 49.5 per cent...
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Posted Date : 08-Jan-2015 , 02:17:17 pm | Posted By CASANSAAR
Private sector Kotak Mahindra Bank has secured its shareholders' approval for amalgamation of Bangalore-based ING Vysya Bank with itself. In November, Kotak Mahindra Bank had announced the buyout of ING Vysya Bank in an all-stock deal valued at Rs 15,000 crore. The Extraordinary General Meeting of...
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Posted Date : 21-Oct-2014 , 04:42:43 pm | Posted By CASANSAAR
The Government has issued a draft order for the merger of scam-ridden National Spot Exchange Ltd (NSEL) with Financial Technologies India Ltd (FTIL). The Corporate Affairs Ministry has put the draft order in its Web site. Financial Technologies, in a notice to the stock exchanges, confirmed...
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Posted Date : 06-Sep-2014 , 09:21:46 am | Posted By CASANSAAR
Call it the Modi impact. After years of suppressed investment environment, India Inc is showing signs of revival with a spurt in merger and acquisitions (M&A) cases. Fair play regulator Competition Commission of India (CCI) used to hardly get four to five cases o...
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Posted Date : 20-Feb-2014 , 08:13:20 am | Posted By CASANSAAR
Facebook Inc will buy fast-growing mobile-messaging startup WhatsApp for $16 billion in cash and stock, as the world's largest social network looks for ways to boost its popularity, especially among a younger crowd. Facebook said on Wednesday it will pay $4 billion in cash and about $12 billion in ...
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Posted Date : 01-Jul-2013 , 04:43:01 pm | Posted By CASANSAAR
Mahindra Satyam (erstwhile Satyam Computer Services Ltd), which merged into Tech Mahindra last month, will become history in the records of BSE and National Stock Exchange (NSE) as trading of the company's scrip is likely to end from July 4. "Trading of Satyam (stocks) will end on July 3 an...
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Posted Date : 16-May-2013 , 08:27:54 am | Posted By CASANSAAR
In the second successive signal in as many days to foreign investors about India's willingness to clear hurdles in the way of investment, law minister Kapil Sibal on Wednesday cleared a Sebiregulation which permits put and call options in mergers and acquisitions. "Yes, I h...
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Posted Date : 29-Dec-2012 , 06:52:16 pm | Posted By CASANSAAR
The shareholders of soaps-to-IT services conglomerate Wipro have approved the company's demerger plan in a court convened meeting held in Bangalore on Friday. About 393 shareholders were present at the extraordinary general meeting including 18 from promoters and promoter groups. In a state...
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Posted Date : 27-Nov-2012 , 10:43:44 pm | Posted By CASANSAAR
A group of minority shareholders of Mahindra Satyam (formerly Satyam Computer Services) has filed a petition in the Andhra Pradesh High Court opposing, the proposed share-swap ratio, among other things, for merger with Tech Mahindra. The petitioners have requested the court to revise...
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Posted Date : 10-Jun-2012 , 09:46:35 pm | Posted By CASANSAAR
Mahindra Satyam today said its shareholders have approved the merger of the firm with its parent company Tech Mahindra. "The shareholders of both Tech Mahindra and Mahindra Satyam have unanimously approved the scheme of amalgamation and merger of Satyam Computer Services Ltd...
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Posted Date : 10-Nov-2011 , 08:42:08 pm | Posted By CASANSAAR
Mahindra Satyam's merger with parent firm Tech Mahindra will take place next year, its chairman Vineet Nayyar said Thursday. "It is a process. We are looking at it when to commence it and we are hoping that by the next year, some time in later half of the year, this amalgamation will in fact tak...
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Posted Date : 26-Jul-2011 , 07:23:13 am | Posted By CASANSAAR
The Securities and Exchange Board of India (SEBI) is likely to approve a diluted version of the draft takeover code aimed at overhauling India’s corporate acquisition regime. The market regulator is likely to bring down the mandatory open offer to 51% of the total shares from the recommended 1...
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Posted Date : 24-Jul-2011 , 09:32:13 pm | Posted By CASANSAAR
Four major construction PSUs, of which two are sick, may be merged to achieve greater synergy between companies like National Buildings Construction Corporation (NBCC) and Hindustan Steelworks Construction (HSCL). The companies which are being considered for merger are NBCC, Hindustan Prefa...
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Posted Date : 18-Jul-2011 , 09:49:13 pm | Posted By CASANSAAR
State-run Steel Authority of India (SAIL) today said it had merged Maharashtra Elektrosmelt (MEL) with itself and plans to infuse around Rs 1,500 crore fresh capital in the ferro-alloys maker for expanding its capacity and putting up a power plant. Existing MEL shareholders would get one sh...
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Posted Date : 18-Jul-2011 , 12:41:24 pm | Posted By CASANSAAR
Auto parts maker Motherson Sumi Systems said on Monday the deal to buy a majority stake in Germany's Peguform Group was valued at 141.5 million euros with the firm's share being 72.17 million euros. The company said it will fund the deal through overseas loans and has appointed ICICI Bank a...
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Posted Date : 13-Jul-2011 , 03:13:16 pm | Posted By CASANSAAR
The Shiv Nadar-controlled HCL Group is in advanced discussions with real estate major DLF to acquire a substantial stake in DLF Pramerica Life Insurance Company Limited , for around Rs.450 crore in a two-phase transaction. The acquisition will be done through a privately-held company and will r...
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Posted Date : 07-Jul-2011 , 04:36:35 pm | Posted By CASANSAAR
Bharti Airtel said on Thursday it would have a new organisation structure for its operations in India and South Asia, effective Aug. 1, to improve efficiency. Mobile, fixed-line, digital TV and other consumer businesses such as mobile commerce will be part of the business to customer (B2C) unit...
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