Buyout of Paras by Reckitt Benckiser

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Case Details:

Case Code : BSTR390
Case Length : 27 Pages
Period : 2010-2011
Pub Date : 2011
Teaching Note :Not Available
Organization : Reckitt Benckiser Group Plc, Paras Pharmaceuticals Limited
Industry : Fast Moving Consumer Goods
Countries : UK, India, Global

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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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Uk-Based FMCG Major Buys Paras cont...

According to experts, acquiring Paras and its leading brands was no easy task as it was a case of there being ‘more suitors than brides’. The acquisition war for Paras went on for more than three months between renowned multinational companies such as Bayer AG⁶ , Colgate-Palmolive Company⁷ GlaxoSmithKline⁸ Plc (GSK), Johnson & Johnson⁹ (J&J), Merck & Co.¹⁰, Inc. ,Novartis International AG, Sanofi-Aventis , and Taisho Pharmaceutical Co., Ltd. . Some Indian companies including the Emami Group (Emami), Dabur India Limited , and Marico Limited also fought to get their hands on Paras. However, RB emerged as the most preferred suitor in the final bidding process, pipping front-runner Emami. On the

successful acquisition of Paras, Bart Becht (Becht), CEO of RB, said, “It creates a material healthcare business in India, one of the most promising healthcare markets in the world with the addition of number of strong and leading brands.” Industry experts said it was the second largest deal in Indian pharma industry in 2010 after Abbott Laboratories’ (Abbott) US$ 3.72 billion acquisition of Piramal Healthcare Limited (Piramal)...

Excerpts - Next Page>>

6] Bayer AG, founded in 1863, is Germany-based global company with interest in healthcare, nutrition, and high-tech materials. It ranked 170th in the Global 500 list of 2010.
7] Colgate-Palmolive Company is a US-based global company which produces and distributes personal care, healthcare, and household products. It ranked 151th place in the Fortune 500 list of 2010.
8] GlaxoSmithKline Plc (GSK) based in London, UK, was the world’s fourth largest pharmaceutical company in terms of revenue as of 2009.
9] Johnson & Johnson (J&J) headquartered in New Jersey, USA, was the world's largest pharmaceutical company in terms of revenue as of 2009. It ranked 33rd in the Fortune 500 list of 2010.
10] Merck & Co., headquartered in New Jersey, is one of the largest pharmaceutical companies. It ranked 85th in the Fortune 500 list of 2010.

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