India’s Takeover Code: the law strikes back

Raghuvir Mukherji is Senior Consultant, & Advait Rege is a Consultant with the Financial Securities Team of the Domain Competency Group of Infosys Technologies Ltd.

Indian companies and Indians have lately been involved in a lot of mergers and acquisitions with a number of high profile deals such as the takeover of Indian firm Matrix Labs by global pharmaceutical giant Mylan for around USD 736 million, the USD 33 billion takeover of Arcelor Steel by Mittal Steel, the acquisition of BPO firm Kanbay by Cap Gemini for USD 1.25bn, the acquisition of Glacéau, the makers of the popular Vitaminwater line of drinks by the Tatas for USD 677 million, and the very recent takeover of Corus steel in the UK again by the Tatas for USD 6.7 billion.