o Wal-Mart to acquire social media site
o Fortis board nod for Super Religare buy
o L&T seeks nod for demerger
Wal-Mart to acquire social media site
WalMart Stores Inc., the world's largest retailer, announced acquisition of social media site Kosmix, a Silicon Valley firm founded by two Indian alumni of the Institute of Technology
“We are expanding our capabilities in today's rapidly growing social commerce environment”, WalMart vice chairman Eduardo CastroWright said in a statement on Monday. WalMart did not disclose the financial details of the transaction.
Founded by Venky Harinarayan and Anand Rajaraman in 2005, Kosmix has developed a social media technology platform that filters and organizes content in social networks to connect people with real time information that interests them.
Fortis board nod for Super Religare buy
Health care provider Fortis Healthcare (India
This is based on the valuation done by private equity fund Avigo, the company said in a release.
Last week, the brothers sold the 86% stake they held personally in the diagnostic services company to Fortis, a group company. Avigo paid `100 crore for a 9.27% equity stake in Super Religare on Monday.
L&T seeks nod for demerger
Larsen and Toubro Ltd (L&T) on Tuesday said it has sought shareholders' approval to transfer its electrical and automation business to a subsidiary.
The board of directors at a meeting on 6 April approved seeking shareholders' approval for transfer of the electrical and automation business to a subsidiary and/or associate company or to any other entity, the company said in a regulatory filing.
L&T, in a separate notice to shareholders, said the proposed restructuring would not include the medical equipment business