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Emami on the prowl for takeovers

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Indian personal healthcare company, Emami Ltd, has drawn up a second list of prospective acquisition targets after its failed bid to take over Paras Pharmaceuticals.

“We have a Plan B. There is a list of companies in the personal and healthcare sector which we will like to bid for. Emami had put in a Rs 3,400 crore bid for Paras Pharmaceuticals, but since we have not been successful, we will spend the money in growing our present brands,” says Aditya Agarwal, Director, Emami.

The bid was turned down in favour of Reckitt Benckiser, who had submitted a bid of Rs 3,260 crore for the acquisition of Paras Pharmaceuticals.

Posted on: 24.12.2010
Source: www.economictimes.com