We might have seen the Rajniganda commercial about the Indian Business Tycoon acquiring the East India Company and we might have thought it as a good day dream. Here are some news which says that dream might be true.
Rediff Report says:
India Inc's hunger to acquire businesses abroad is increasing. The value of overseas acquisitions by Indian companies more than doubled to $9.30 billion in 2004 from $4.5 billion in the previous year.
While the number of deals has not gone up significantly (316 in 2004 compared with 305 in 2003), the huge rise in terms of value indicates that Indian companies are ready to dig deep into their pockets for the right acquisition.
Agrees Manish Thakkar, vice-president, M&A, at ICICI Securities. "We believe that the next 12-18 months will see major activity in oil and gas, technology, textiles, and health care - a large component of which will be cross-border in nature," he said.
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