`The Time Is Ripe' For Indian Merger Mania

The subcontinent is awash in takeovers of all sorts

When word seeped out last March that India's Gujarat Gas Co. was up for sale, buyers stampeded to its door. Enron, Shell, Total, British Gas, First Pacific, Bharat Petroleum, and Hindustan Oil Exploration all expressed interest in acquiring the $35 million company, which supplies gas to households in the prosperous state of Gujarat. Eventually, British Gas acquired a 61% stake for $60 million.

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