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Article: End of the Indian outbound story? ; The global credit crunch has sent yesterday's outbound heroes scurrying for funds to close their billion-dollar M&A transactions. India Inc.'s cross-border action has ebbed, for now.
- Article from:
- Business Today
- Article date:
- November 30, 2008
- Author:
CopyrightCopyright 2008 Business Today. Provided by ProQuest LLC. (Hide copyright information)
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October 2006: Tata Steel offers to buy British steelmaker Corus
Group for $8.1 billion.
November 2006: Brazilian rival CSN makes a counter bid of $8.4
billion.
January 2007: Tata Steel outbids CSN and bags Corus for $11.3
billion.
February 2007: Suzlon Energy makes a $1.33 billion counter bid
for Germany-based REpower Systems AG. Areva T & D of France
increases its initial bid by bettering Suzlon's initial bid. April
2007: Suzlon ups its bid, allowing it to get control of REpower for
around $1.55 billion.
September 2008: Infosys makes a bid for acquiring consulting
major Axon of the UK for $748 million. Days later, domestic rival
HCL Technologies gets into the fray with a counter offer ...