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Mergers, Acquisitions, Alliances and Synergies Case Study
Case Title:
Ultra Tech - Acquisition of L&T Cement by Grasim
Publication Year : 2005
Authors: Abhijit Sinha, Bitan Chakraborty
Industry: Cement
Region: India
Case Code: MAA0092K
Teaching Note: Not Available
Structured Assignment: Not Available
OR
Abstract:
Grasim, a leading Indian business group, has acquired the majority stake in Ultra Tech Cement Co Ltd (Ultra Tech), the new identity for the de-merged cement business of Larsen & Toubro (L&T). With this, Ultra Tech has become a subsidiary of Grasim. The acquisition which took two years to complete, is the biggest ever in the Indian cement industry. Grasim believes the merger will help it to attain economies of scale and enjoy a pricing advantage. On the other hand, L&T hopes the de-merger will sharpen its focus on its core business areas such as hi-tech engineering and high-end construction. Will Grasim be able to exploit the full potential of the deal?
Pedagogical Objectives:
- To discuss the trends and patterns in building material industry
- To discuss the merger and acquisition process in building material industry
- To discuss the process of acquisition and problems of acquisition.
Keywords : Mergers,Acquisitions,Alliances Case Study;Larsen & Toubro (L&T); Grasim Industries Ltd; Kumar Mangalam Birla; Ultra Tech Cement Co Ltd; Acquisition; Merger; Raymond Cement; Lafarge; Ultra Tech ChemCo Ltd; Birla Plu; Birla Super; Strategic acquisitions; Indian cement industry; Distribution network; L&T Cement
