Mumbai-based generic drug maker Piramal Healthcare Limited has completed its previously announced acquisition of Minrad International, a provider of generic inhalation anesthetics.

It may be noted that US-based Minrad had approved the deal at the special meeting of stock holders held on February 27.

Under the arrangement, holders of Minrad common stock will receive, in exchange for their shares, cash amount of US$0.12 per share.

NYSE-listed Emerson has notified that it’s wholly owned subsidiary Aegir Norge Holding AS has reached an agreement with Roxar ASA to launch a voluntary offer for 100 percent of Roxar's shares.

Under the arrangement, Emerson will offer NOK 5.20 (approximately $ 0.735) per share in cash, which represents approximately NOK 1,266 million (approximately $ 179 million), for the total share capital of Roxar.

GMR Hyderabad International Airport (GHIAL) and MAS Aerospace Engineering (MAE), a fully-owned subsidiary of Malaysia Airlines, has penned down an agreement to form a 50:50 joint venture christened MAS-GMR Aerospace Engineering Company to develop a MRO facility in Hyderabad.

The facility, with an investment of Rs 400-crore, would come up on 25 acres in two phases at the GMR Aerospace Park, situated near Rajiv Gandhi International Airport.

Indian telecom company Bharti Airtel has announced a major foray into the rural telecom market with the setting up of 4,000 Airtel Service Centres (ASCs) in the remotest villages of Maharashtra and Goa telecom circles. The strategy includes a combination of distribution and service under iServe Airtel Service Centre.

“ASCs are an important step in Airtel’s objective of expanding its rural base across India. Today, over 50% of our business comes from rural areas and going forward, a major percentage of new acquisitions are expected from the rural market,” said Manu Talwar, CEO (mobility), Bharti Airtel Ltd’s Maharashtra and Goa telecom circles.

The first ASC centre was opened at Ausarikurd near Pune on Friday.

Hit by a slowing economy and a bad year for the manufacturing and service sectors, logistics major TNT India Pvt Ltd., a 100% subsidiary of Dutch firm TNT NV, is shifting focus from the air freight to the land route in a bid to prune costs and increase margins.

TNT India Pvt. Ltd managing director Abhik Mitra said, “We are shifting focus from air freight to roads as more and more goods are moving through roads than air with customers looking at cheaper mode of transportation.”

Rajkot-based Saurashtra Kutch Stock Exchange Ltd (SKSE) received permission from Sebi to function as a self clearing member on derivatives segment. Now, SKSE would soon begin trading on the future and option (F&O) segment, said CEO of SKSE, Dr Alok Chakrawal.