Crompton acquires controlling stake in Butterfly. Seems an attractive buy.

Crompton Greaves Consumer Electricals (CGCE) has announced acquiring a controlling stake in Butterfly Gandhimathi Appliances (BGA). Key points to note: CGCE is acquiring 55% stake from BGA’s promoter group @ Rs 1,403/ share Consideration value for this tranche comes to Rs 1,379.68 crore Promoters total stake in BGA is currently 64.78%. Balance not selling may … Read more

KPTL decides to consolidate. To merge JMC, a subsidiary.

Kalpataru Power Transmission (KPTL) has announced to merge it’s subsidiary, JMC Projects with itself. Key points to note – KPTL currently owns 67.75% of JMC. It’s an equity merger and the swap ratio is determined as 1 share of KTPL for every 4 shares of JMC. Their respective last closing prices were Rs 389 and … Read more

Microsoft is buying ‘Call of Duty’ publisher Activision for nearly $70 billion

Activision owns Blizzard and King, and Microsoft will acquire those companies as well in the deal. Microsoft is buying Activision, the major video game publisher behind the “Call of Duty” franchise, in a deal valued at nearly $70 billion. It’s the largest video game acquisition in history, and Microsoft’s largest acquisition as a company. Developing … Read more

Glaxo rejects $68 billion Unilever bid for consumer business

GlaxoSmithKline Plc said it rejected an offer from Unilever Plc for the drugmaker’s consumer healthcare unit last year that valued the business at about 50 billion pounds ($68 billion). Glaxo in a statement Saturday said that it had received three unsolicited offers from Unilever for its consumer healthcare business, the final one on Dec. 20 … Read more

Mahindra-owned SsangYong Motor sold to a consortium for $255 mn

A consortium led by South Korean electric carmaker Edison Motors Co has agreed to acquire debt-ridden SsangYong Motor Co Ltd for 305 billion won ($254.65 million), SsangYong Motor said on Monday. SsangYong is burdened with high debt and its vehicle sales last year fell to 84,496, down about 21% from a year earlier, a regulatory … Read more

Cult.fit acquires RPM Fitness, three other equipment brands

Fitness and wellness startup Cult.fit on Monday said it has acquired at-home cardio equipment brands – RPM fitness, Fitkit and Onefitplus. The deal size was not disclosed. Cult is also making a foray into outdoor bicycles business with acquisition of brand Urban Terrain.   “The brands were built and scaled by Mohit Mathur and his … Read more