India's M&A drive slows amid credit squeeze fears

Newswire

By Himangshu Watts MUMBAI, Aug 21 (Reuters) - After a spate of big M&A deals, corporate India's drive for foreign acquisitions has ebbed amid concerns about a global credit squeeze, though firms with strong balance sheets may look for bargains as valuations come down. Indian firms are still negotiating deals and raising funds for acquisitions, but the size of deals has fallen after Tata Steel's $12.9 billion acquisition of Corus and Hinalco's $6 billion purchase of Canada's Novelis. ...

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