Plethico Pharmaceuticals Ltd said on Monday that on November 18, 2007 it has agreed to acquire Natrol, Inc., a leading manufacturer and marketer of nationally branded nutritional products in the USA. Under the terms of the effective merger agreement, all outstanding Natrol shares will be acquired for a cash purchase price of US$4.40 per share, for an expected aggregate purchase price of approximately $80.7mn. The acquisition will be effected by an initial general tender offer by a wholly owned subsidiary of Plethico for all of the outstanding shares of Natrol's common stock, at $4.40 net per share in cash, followed by a second-step, cash-out merger in which all remaining untendered Natrol shares will be acquired at the same net cash price per share. All Natrol stock options will receive cash equal to the excess, if any, of $4.40 over their exercise price. The tender offer is subject to certain conditions, including the valid tender in the offer of a majority of the fully diluted Natrol common stock, and other customary conditions. Certain stockholders of Natrol, owning in the aggregate approximately 42.3% of Natrol's outstanding common stock, have committed to tender their shares in the offer. […]

Network services major GTL has acquired a Malaysia-based network planning and optimisation company, ADA Cellworks, in an all-cash deal of $25 million (around Rs 100 crore). The acquisition will conclude in the next few weeks. “With this, we have progressed on our inorganic growth strategy and strengthened our presence in the high value segments of network planning and optimisation,” GTL Chairman and Managing Director Manoj Tirodkar said. The acquisition will also result in access to markets in China, Indonesia and South-East Asia. This will also strengthen relationships with leading telecom technology providers such as Nokia Siemens Networks, Alcatel Lucent, Motorola, Ericsson and Huawei, he added. […]

Indusind Bank needs to raise (tier-I) capital and its Managing Director & CEO, Mr Bhaskar Ghose, says the board would prefer to do so by issuing shares to a “strategic partner”. “Our intention is to get a foreign bank as a strategic partner,” Mr Ghose said, adding that the bank’s “Plan B” for raising equity would be a follow-on GDR issue. He practically ruled out a regular follow-on public or rights issue. The bank’s capital adequacy ratio, as at end-September, was 11.77 per cent. While the bank has headroom to raise about Rs 300 crore by way of tier-II capital (long term debt), Mr Ghose feels tier-II capital would be expensive. In an informal chat with journalists here today, he said that such fund-raising would be completed this financial year. Regulations do not permit a bank to pick up over 5 per cent stake in another bank, but Mr Ghose says that many foreign banks are willing to invest up to 5 per cent. “A lot of foreign banks are interested in establishing a base in India before the markets are opened up (for equity participation by one bank in another),” he said. Mr Ghose was here in connection with an announcement of a tie-up with the Chennai-based Cholamandalam MS General Insurance Company to sell the insurer’s products. […]

Essar group-run Aegis BPO said it is acquiring TeleTech Services, an equal joint venture between TeleTech Europe and Bharti Ventures, for nearly $13 million in cash. “We would be financing the acquisition through the company’s internal resources,” CEO and MD Aparup Sengupta said. This is Aegis’ seventh acquisition in past two years, Other companies acquired by Aegis include Canada’s Genesis Media, French sales promotion and direct marketing agency Implicom, which Aegis acquired in October this year. Mr Sengupta said that the acquisition has brought telecom provider Bharti-Airtel into the company’s client portfolio. Aegis already services the customer care requirements for Idea, Tata Teleservices and Vodafone. […]

DLF Ltd, India's largest listed real estate company, is buying luxury chain Amanresorts for around $250 million, a source close to the development said on Wednesday, confirming a report in the Business Standard. DLF will also assume debt of about $220 million, the source said. A spokesman for DLF declined comment. The valuation of the Singapore-based privately held chain of luxury hotels and spas was “extremely conservative”, the paper said, citing sources close to the development. DLF has a joint venture with Hilton Hotels Corp to develop 75 hotels and serviced apartments over seven years in India.(Reuters) […]