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Deal Watch

Oil and Natural Gas Corp wrote to Cairn Energy Plc insisting that the UK-based firm will need its explicit nod before it can sell its India unit to Vedanta Resources Plc.

Petroleum Secretary S. Sundareshan put the ball in Cairn Energy CEO's Bill Gammel's court saying the UK-firm had sought the govt's nod for the $8.8-billion deal.
Delhi-based Bhushan Steel has launched a takeover bid for exploration minnow Bowen Energy, worth AUS $8.16 million, a media report has said.
South Asia Creative Assets Ltd, a subsidiary of Astro All Asia Networks Plc, will acquire a 49 per cent stake in NDTV Lifestyle for Rs 182 crore.
The Financial services firm said it will acquire a stake in the Sri Lankan brokerage firm engaged in stock broking, online trading, and investment advisory.
The UK-based company has written to the oil ministry seeking approval for a stake sale in its Indian arm, a deal agreed upon with Vedanta Resources.
The signing of the Gas Sales and Purchase Agreement was delayed since RIL didn't want to commit providing gas beyond its production limit of 60 mscmd a year.
In a statement, Pfizer said it would buy out King for a share price of $14.25 apiece, representing a 40 per cent premium over the its closing price on October 11.
The consumer goods major will acquire Alberto Culver Company is an all cash deal, a move that would help Unilever strengthen its global position.
Reports suggest that the Lucknow-based corporate major Sahara India Pariwar has made a bid of about $2 billion to buy the debt of the Hollywood studio.
The flagship company of the United Brweries group will buy 73.22 lakh shares in alcohol manufacturer Pioneer Distilleries at a price of Rs 101 a piece.
The world's largest steel-maker, ArcelorMittal, is in talks with financial services and infrastructure major Indiabulls for setting up a mining joint venture in India.