London, Aug. 17: Britain-based brewer SABMiller today launched a hostile takeover bid for Australian beer giant Foster’s worth around Aus $9.5 billion ($10 billion) after an initial approach was rejected in June. SABMiller said its renewed offer was unchanged at Aus $4.90 per Foster’s share.
New Delhi, Aug. 17: UK’s Cairn Energy Plc has written to state-owned ONGC seeking a no-objection certificate for the stake sale in its Indian unit to Vedanta Resources by September 21.
New Delhi, Aug. 17: India will become a $5.6-trillion economy by 2020, according to research firm Dun & Bradstreet, which has predicted a three-fold jump in the country’s GDP from $1.7 trillion last fiscal.
New Delhi, Aug. 17: United India Insurance chief G. Srinivasan has taken up the additional charge of chairman and managing director of New India Assurance following the suspension order issued by the Centre to M. Ramadoss over alleged irregularities.
Mumbai, Aug. 17: Idea Cellular today said Axiata Investments 2 (India) Ltd had hiked its stake in the company to 5.91 per cent by acquiring additional shares worth Rs 306.69 crore through open market transactions.
