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Emami's bid was turned down in favour of Reckitt Benckiser, which had submitted a bid of Rs 3,260 crore for the acquisition of Paras Pharmaceuticals.

Besides the Tatas, a number of other Indian companies are also looking to ramp up their business, as the two countries have set a $100-bn target for bilateral trade.
Vedanta had on August 16 announced buying Cairn Energy's 40-51 per cent stake in its Indian unit (Cairn India) and an additional 20 per cent through an open offer.
Deepak Kapoor will take over from Gautam Banerjee, who will relinquish office on December 31. Banerjee would continue as Executive Chairman of PwC Singapore.
The nod came after eight months wait since Inox Leisure and Anil Ambani Group company Reliance Mediaworks made these offers way back in February.
Edinburgh-based Gammell, on his third trip to India since announcing a deal to sell up to 51 per cent stake in Cairn India, is believed to have met PMO officials too.
Chinese Premier Wen Jiabao assures India Inc that China is ready to open its markets to bring down India's soaring trade deficit with its Asian neighbour.
"Radia must have thought BT is going to ask only those questions that she wants. However, she realised that wasn't the case when our story came out."
Reid & Taylor (India) is reportedly looking to raise around Rs 1,000 crore from the offer and the funds are expected to be utilised to finance expansion plans.
Under the plan, the company would allot its shareholders a scrip in the stainless steel unit for every existing 20 shares, in the first quarter of 2011.