Business Services Industry
ANALYSIS - INDIAN FIRMS ENJOY ACQUISITIONS SPREE IN 2004.
AsiaPulse News, December, 2004
MUMBAI, Dec 29 Asia Pulse - The year 2004 was the time for acquisitions, with the Indian corporate sector engaging in a buying spree, spurred by the quest for globalisation and buoyant on robust market conditions.
An urge to offer cost-competitive products both in domestic and international markets and shore-up resources were also the reasons for lapping up overseas companies.
The Tata group was on the forefront of acquisitions with two major deals - snapping up of Tyco Global Network by Videsh Sanchar Nigam Ltd (VSNL) and acquiring Singapore-based NatSteel by Tata Steel Ltd - even as the group subsidiaries like Tata Motors Ltd and Tata Tea Ltd also pitched in with takeovers during the year.
Tata Steel's acquisition of Singapore-based NatSteel in...
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