A Takeover Battle - Grasim vs. L&T
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(Case Code: FINC024) click on the button below, and select the case from the list of available cases:
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Please note:
This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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Case Details: |
Price: |
| Case Code |
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FINC024 |
For delivery in electronic format: Rs. 400;
For delivery through courier (within India): Rs. 400 + Shipping & Handling Charges extra
ThemesFinance : Merger and acquisition takeover |
| Case Length |
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19 Pages |
| Period |
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2002 - 2003 |
| Pub. Date |
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2005 |
| Teaching Note |
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Available |
| Organization |
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Grasim, L & T, SEBI |
| Industry |
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Financial Services |
| Countries |
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India |
Abstract:
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The case examines how Grasim, a leading Indian business conglomerate, gained control over the cement business of another business group, L&T through stock market mechanizations. It discusses the rationale for Grasim's acquisition of stake in L&T and also examines the acquisition tactics adopted by Grasim to increase its share in L&T. It covers the role of India's stock market regulatory authorities in the issue with respect to insider trading at L&T, the open offer chaos and takeover code violations by Grasim. The case critically examines L&T's decision to demerge the cement division to prevent a takeover by Grasim. The case explores the moves and counter moves adopted by both the companies in this tussle. Finally, it details the settlement plan accepted by both the parties.
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Issues:
» Stock market deals influence corporate decisions at the strategic level
Contents:
Keywords:
Grasim, Indian business, conglomerate, cement business, L&T, stock market, mechanizations, acquisition, stake, L&T, India's stock market, regulatory authorities, insider trading, takeover code, demerge, moves, counter move
A Takeover Battle - Grasim vs. L&T
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