India Based Pharma Companies In Race To Buy Athenex, Shares Surge

TechCrunch

India eyes a seat at the global M&A table

India emerged as a key overseas market for several global tech giants in the past decade as Meta, Google and Amazon aggressively raced to find the next and perhaps the last great growth geography. New Delhi proposed amendments to its Competition Act, 2002 Friday to introduce a number of changes, including requiring the permission of local watchdog (Competition Commission of India) for all overseas deals exceeding $252 million in value for firms with “substantial business operations in India.” India, the world’s second largest internet market that has drawn investments of tens of billions of dollars from Meta, Google and Amazon and venture capitalists including SoftBank, Sequoia and Tiger Global, has traditionally scrutinized deals based on asset size and not the transaction value.