Categories

Business Ideas
Business Opportunities
Corporate
Home Business
International Business
Management
Online Business
Public Company
Public Relations
Small Business

Popular Articles

TRAI to float consultation paper on M&A norms
Telecom regulator TRAI today said it will float a consultation paper on merger and acquisitions in the sector by the next month, a move that could unleash the second wave of consolidation in the sector. generic levitra

payday loans online
Ranbaxy Labs reports net profit of Rs 116 cr
India’s biggest drug maker, Ranbaxy Laboratories, has posted a net profit of Rs 116.6 crore for its third quarter ended September, against a net loss of Rs 394.5 crore in the same period last year, which had been largely attributed to mark-to-market exchange losses.

News of the day

Blame it on Bollywood
Call it the Bollywood effect. At his press conference in Mumbai during the election campaign, Corporate Affairs Minister Salman Khurshid repeatedly gave film references. When someone alleged the Congress party had given very few seats to Muslim candidates and could be accused of neglecting the community, Khurshid recited lines from the famous Anand Bakshi song from the movie Amar Prem, “Kuchh to log kahenge, logon ka kaam hai kehna” (people will say something, that’s their job). After a few minutes, a chit was passed on to him saying that Minister of State in the Prime Minister’s Office Prithviraj Chavan had arrived for the next press conference. Khurshid wrapped up his press meet while saying, “This was just the matinee show. Now the evening show will start.”
Small Business

Sun shines as Taro shareholders slam board re-election

In a major boost to India"s Sun Pharma, which is locked in a takeover battle with Taro, shareholders of the Israeli drug firm today rejected a proposal to re-elect directors. - Sun gets support of RMG in battle against Taro - Now, Sun Pharma gets RiskMetrics" support in Taro battle - Sun Pharma up on new support in Taro war - Sun pharma gets fresh support in Taro battle - More support for Sun Pharma in Taro takeover battle - Pharma 2009: No medicine to cure adversity The shareholders have also turned down a new indemnification proposal by the Taro board, Sun Pharma said in a statement. Sun Pharma is the single largest shareholder in Taro with 36 per cent stake and it has been trying to take control of the company ever since their $454-million merger deal of 2007 was unilaterally terminated by the Israeli firm a year later. "Shareholders voted decisively against the election of Taro"s external director nominees," Sun Pharma said. Taro shareholders holding over two-thirds of its equity want to remove the Levitts (promoter family) and their associates from the board, it said. Commenting on the development, Sun Pharma Chairman and Managing Director Dilip Shanghvi said: "With such an unambiguous rejection by minority shareholders, the Levitts and Taro directors now have lost this only crutch." It is time Levitts, who own a mere 12 per cent of Taro"s equity, hear the voice of the minority shareholders and stop relying on their special founder shares to decide who will manage Taro, he added. Reacting to the shareholders decision, Templeton Asset Management Executive Chairman Mark Mobius told TV news channel: "We expect Sun management, which is most capable to take over the management of the company (Taro)." Taro had called for the annual general meeting on December 31 to re-elect its existing board besides seeking approval of a new indemnification proposal, which gives undertaking by the company to shareholders to compensate for any possible damage or loss. Sun had also launched an open offer to acquire the remaining shares of Taro, including those held by its promoters the Levitt family. The move was challenged by the Taro"s director in the court and the Supreme court of Israel has prohibited Sun from closing the open offer untill the issue is resolved.


Add your comment:
Name:
Site address: http://
Your message:
Enter today\\\\'s date, 2 digits
(spam protection):

© Copyright 2009