A Case Study on Tata Group's Plans to Acquire Stake in GMR Airports Limited (GAL) - in Pursuit of Synergy Gain

Abstract

This paper delves into the case study of Tata Group’s plan to acquire stake in GMR Airports Limited (GAL) citing the chronology of events, plausible arguments for the acquisition, statutory response for the acquisition proposal culminating into the clearance of the case by The Competition Commission of India (CCI). The case study also examines the controversies happened during the process. It has been identified that post-merger synergy gain is the motivator for the friendly acquisition. All parties engaged in this acquisition are likely to get a magnified benefit well over the sum of individual gains.