Union Finance Minister Nirmala Sitharaman
Union Finance Minister Nirmala Sitharaman has said that the government will ensure that Indian companies cannot be acquired at ‘one-quarter’ price. The Finance Minister’s statement came amid concerns about the aggressive takeover of Indian companies.
Industries worldwide have been affected due to reduced demand due to the applicable lockdown due to Coronavirus. The Finance Minister said that in such a situation, players with more cash have the opportunity to buy companies at cheap valuations.
The Finance Minister said, This is the reality, but we will ensure that the companies that Indians have built up with their sweat, whose brand value is not able to buy people who are just waiting for the opportunity.
Sitharaman said in an interview to a TV channel, So this is the reason for which we are worried. We will definitely do something so that Indian industries cannot be acquired at a paltry price. We want everything to be normal After that they carry on their business.