The story of aggressive takeovers in the Indian corporate sector is detailed in Adani Group vs. NDTV.
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In the history of Indian corporations, hostile takeovers have occurred frequently
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People have referred to the announcement of business mogul Gautam Adani gaining control of the New Delhi Television Ltd (NDTV) news channel as a "hostile takeover," which has shocked viewers greatly.
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NDTV's 29.18% ownership has allegedly been bought without "conversation, consent, or notification," according to the news station
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Adani, the wealthiest man in Asia, began an aggressive takeover of the media powerhouse NDTV
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initially with the indirect purchase of a controlling 26% share in the broadcaster, then with an offer to buy out the remaining 29.18%
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A "hostile takeover" is when a corporation or person tries to take over another company against the wishes of the target company's board or management
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Let's say firm "A" offers to buy company "B" in a bid. Company "B" also rejects the offer, claiming that it is not in the best interests of the shareholders
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However, Company "A" makes several measures to compel the transaction, including a proxy vote, a tender offer, or a substantial stock purchase