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JSW Paints frontrunner to acquire Akzo Nobel India in ₹10,000-12,000 crore deal

JSW Paints frontrunner to acquire Akzo Nobel India in ₹10,000-12,000 crore deal
Dutch firm AkzoNobel NV holds a 74.76 per cent stake in AkzoNobel India and any attempt at purchasing a controlling stake will trigger an open offer. 
“A final decision in the ongoing sale process is yet to be taken by Akzo NV, the Netherlands-based parent company,”  a person aware said. Powder coatings and the R&D units are to be sold back to the Dutch-parent. The India unit is listed on Indian stock exchanges.Owners of the Dulux brand, Akzo India has a near-8 per cent market share. The business review, first signaled last year, comes as Akzo NV, the parent company, seeks to streamline operations and boost efficiency amid global economic uncertainties. Based on the market cap of the Indian arm at the end of day’s trade on May 15, the parent’s stake is valued at around ₹11,854 crore.The India business of Akzo has a market capitalisation of ₹15000 crore-odd; which includes some verticals like powder coating that wouldn’t be included in the sale. Published on May 15, 2025 AkzoNobel India in FY25 reported a revenue from operations of ₹4,091.2 crore, up by 3 per cent, EBIT from operations flat at ₹551.8 crore; double digit profitability sustained at 13.5 per cent and PAT flat at ₹428.6 crore.The fight for Akzo Nobel’s India business has now boiled down to just two players – JSW Paints and Indigo Paints – with Pidilite not putting in bids, sources said. Amongst the two, JSW Paints is said to be a frontrunner, those aware of the discussions revealed. Earlier this year, the unit here acquired the Dulux brand’s intellectual property rights for India, Nepal, Bhutan, and Bangladesh for ₹1,152 crore. Concurrently, it sold its powder coatings business to the parent company for ₹2,073 crore and its R&D vertical for ₹70 crore. The net proceeds of ₹991 crore will cover tax obligations from the sales and fund dividends to shareholders. Hemant Jalan’s Indigo Paints, backed by private equity major Advent International, was not immediately available for comments. The deal is expected to be valued at ₹10,000-12,000 crore, it is being said, with the winner picking up decorative and industrial coatings. Pidilite reportedly was eyeing only the decorative business. The India business of Akzo has a market capitalisation of about ₹15000 crore which includes some verticals like powder coating that wouldn’t be included in the sale

businessline had previously reported that JSW Paints, Indigo Paints (backed by PE firm Advent) and possibly Pidilite are the ones in fray. Two binding bids had been placed by April. AkzoNobel India, the fourth player by market size, after Asian Paints, Berger and Kansai Nerolac, is centred on decorative paints for homes and commercial spaces, operates as a largely self-contained unit, insulated from global supply chain disruptions. The local business of AkzoNobel includes the decorative paints segment as well as the industrial paints segment and the firm’s stock price has rallied by 35.79 per cent in the last year.AkzoNobel India & JSW Group did not respond to queries by businessline. Pidilite has not commented on a previous questionnaire sent by the paper.

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JSW Paints frontrunner to acquire Akzo Nobel India in ₹10,000-12,000 crore deal

JSW Paints frontrunner to acquire Akzo Nobel India in ₹10,000-12,000 crore deal
businessline had previously reported that JSW Paints, Indigo Paints (backed by PE firm Advent) and possibly Pidilite are the ones in fray. Two binding bids had been placed by April. 
AkzoNobel India, the fourth player by market size, after Asian Paints, Berger and Kansai Nerolac, is centred on decorative paints for homes and commercial spaces, operates as a largely self-contained unit, insulated from global supply chain disruptions. AkzoNobel India in FY25 reported a revenue from operations of ₹4,091.2 crore, up by 3 per cent, EBIT from operations flat at ₹551.8 crore; double digit profitability sustained at 13.5 per cent and PAT flat at ₹428.6 crore.Pidilite reportedly was eyeing only the decorative business. AkzoNobel India & JSW Group did not respond to queries by businessline. Pidilite has not commented on a previous questionnaire sent by the paper. Earlier this year, the unit here acquired the Dulux brand’s intellectual property rights for India, Nepal, Bhutan, and Bangladesh for ₹1,152 crore. Concurrently, it sold its powder coatings business to the parent company for ₹2,073 crore and its R&D vertical for ₹70 crore. The net proceeds of ₹991 crore will cover tax obligations from the sales and fund dividends to shareholders.The India unit is listed on Indian stock exchanges.Dutch firm AkzoNobel NV holds a 74.76 per cent stake in AkzoNobel India and any attempt at purchasing a controlling stake will trigger an open offer. The business review, first signaled last year, comes as Akzo NV, the parent company, seeks to streamline operations and boost efficiency amid global economic uncertainties. Owners of the Dulux brand, Akzo India has a near-8 per cent market share. “A final decision in the ongoing sale process is yet to be taken by Akzo NV, the Netherlands-based parent company,”  a person aware said. The local business of AkzoNobel includes the decorative paints segment as well as the industrial paints segment and the firm’s stock price has rallied by 35.79 per cent in the last year. Hemant Jalan’s Indigo Paints, backed by private equity major Advent International, was not immediately available for comments. Based on the market cap of the Indian arm at the end of day’s trade on May 15, the parent’s stake is valued at around ₹11,854 crore.The deal is expected to be valued at ₹10,000-12,000 crore, it is being said, with the winner picking up decorative and industrial coatings. Published on May 15, 2025 Powder coatings and the R&D units are to be sold back to the Dutch-parent. The India business of Akzo has a market capitalisation of about ₹15000 crore which includes some verticals like powder coating that wouldn’t be included in the sale

The fight for Akzo Nobel’s India business has now boiled down to just two players – JSW Paints and Indigo Paints – with Pidilite not putting in bids, sources said. Amongst the two, JSW Paints is said to be a frontrunner, those aware of the discussions revealed. The India business of Akzo has a market capitalisation of ₹15000 crore-odd; which includes some verticals like powder coating that wouldn’t be included in the sale. 

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Israel confirms use of laser weapons to defend against drone attacks

Israel confirms use of laser weapons to defend against drone attacks
The ministry did not provide specifics about when the systems were tested or data about interception rates. Defense Minister Israel Katz praised the futuristic weapon, saying its adoption was poised to “change the rules of the game in the region.” 
The announcement suggests that Israel may soon pull ahead of other countries in the race for laser weapons. Nations have pursued the technology for decades, but efforts to scale lasers have been complicated by significant technical difficulties. Published on May 28, 2025 Israel’s air defenses have faced over 26,000 aerial attacks from missiles, drones and rockets since Oct. 2023. Most of the projectiles, which were fired from Gaza, Lebanon, Syria, Iran, Iraq and Yemen, were intercepted by the Iron Dome and long-range Arrow shield systems. Many drones, however, penetrated its defenses.According to the Israeli Defence Ministry, footage shows lasers successfully shooting down drones. Defense Minister Israel Katz called the weapon a regional “game-changer.” 

The larger Iron Beam laser, developed by Rafael Advanced Defense Systems and Elbit Systems Ltd., will be integrated into Israel’s multi-level air defenses in the next six months. The technology has been touted as a cheaper way to repel drones and short-range projectiles, with each interception costing less than . The system, however, still has numerous technical limitations and can’t work in cloudy weather.More stories like this are available on bloomberg.comIsrael has deployed laser weapons during its ongoing war to deflect “scores” of aerial attacks, including from drones, the Defence Ministry said in a statement on Wednesday. This is the first time the country has acknowledged the use of directed-energy technologies in the battlefield.The systems were described as a less powerful “prototype” of the 100-kilowatt Iron Beam laser interceptor that will be operational in Israel by the end of the year. The Defence Ministry also released footage of what it said were the lasers intercepting fixed-wing drones in the sky. 

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Israel confirms use of laser weapons to defend against drone attacks

Israel confirms use of laser weapons to defend against drone attacks
Israel has deployed laser weapons during its ongoing war to deflect “scores” of aerial attacks, including from drones, the Defence Ministry said in a statement on Wednesday. This is the first time the country has acknowledged the use of directed-energy technologies in the battlefield.
More stories like this are available on bloomberg.comThe ministry did not provide specifics about when the systems were tested or data about interception rates. Defense Minister Israel Katz praised the futuristic weapon, saying its adoption was poised to “change the rules of the game in the region.” The larger Iron Beam laser, developed by Rafael Advanced Defense Systems and Elbit Systems Ltd., will be integrated into Israel’s multi-level air defenses in the next six months. The technology has been touted as a cheaper way to repel drones and short-range projectiles, with each interception costing less than . The system, however, still has numerous technical limitations and can’t work in cloudy weather.Published on May 28, 2025 According to the Israeli Defence Ministry, footage shows lasers successfully shooting down drones. Defense Minister Israel Katz called the weapon a regional “game-changer.” 

The announcement suggests that Israel may soon pull ahead of other countries in the race for laser weapons. Nations have pursued the technology for decades, but efforts to scale lasers have been complicated by significant technical difficulties. The systems were described as a less powerful “prototype” of the 100-kilowatt Iron Beam laser interceptor that will be operational in Israel by the end of the year. The Defence Ministry also released footage of what it said were the lasers intercepting fixed-wing drones in the sky. Israel’s air defenses have faced over 26,000 aerial attacks from missiles, drones and rockets since Oct. 2023. Most of the projectiles, which were fired from Gaza, Lebanon, Syria, Iran, Iraq and Yemen, were intercepted by the Iron Dome and long-range Arrow shield systems. Many drones, however, penetrated its defenses.

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Trump admin moves to cancel all federal contracts with Harvard in antisemitism crackdown

Trump admin moves to cancel all federal contracts with Harvard in antisemitism crackdown
“The U.S. General Services Administration (GSA) is assisting all federal agencies in a review for termination or transition of their federal government contracts with Harvard University and affiliates,” the letter says. “This review aligns with the Administration’s directive that all federal contracted services steadfastly uphold and advance agency strategic priorities.”
Federal Acquisition Service Commissioner Josh Gruenbaum, in a letter seen by Bloomberg News, is directing federal agencies to review their contracts, terminate those that they deem not critical and transition to other vendors if necessary. The contracts are worth an estimated 0 million, according to a person with knowlege of the matter, who asked not to named discussing the administration’s moves. Harvard didn’t immediately respond to a request for comment.Homeland Security Secretary Kristi Noem has argued that Harvard’s responses to the government’s requests to provide information about misconduct by foreign students were insufficient.To regain its program certification, Harvard was given 72 hours to provide six categories of information about foreign students over the past five years, including disciplinary records and video of those engaged in protests. Harvard still hasn’t turned over the requested information.Trump on Monday also threatened to also divert billions in grant dollars away from the university.More stories like this are available on bloomberg.com“I am considering taking Three Billion Dollars of Grant Money away from a very antisemitic Harvard, and giving it to TRADE SCHOOLS all across our land,” Trump said in a post on social media. “What a great investment that would be for the USA, and so badly needed!!!”The government has sought a series of changes as a condition of continuing its financial relationship with the university. It has demanded the university remake its governance, transform admissions and faculty hiring — which the administration has called discriminatory — as well as stop admitting international students who officials say are hostile to American values. The letter, first reported by the New York Times, asks agencies to report on their “actions or intended actions with respect to each referenced contract” by June 6.The letter alleges that Harvard has continued to “engage in race discrimination, including in its admissions process and in other areas of student life” and says that the government is “aware of recent events at Harvard University involving anti-Semitic action that suggest the institution has a disturbing lack of concern for the safety and wellbeing of Jewish students.”Harvard President Alan Garber, who’s Jewish, has apologized for Harvard’s handling of antisemitism on campus and acknowledged that he has experienced prejudice himself at the school. But he has also said the extent of the government’s demands show that “the intention is not to work with us to address antisemitism.” The university has sued the US government over the cuts to funding as well as the block on enrolling international students. The university last week won a temporary court order blocking the government from enforcing the foreign student ban.President Donald Trump’s administration is moving to cancel all remaining federal contracts with Harvard University, marking the latest escalation of its battle against the oldest and richest US school. Gruenbaum referred to alleged discrimination at the Harvard Law Review. A federal task force recently called out the Review’s award of a ,000 fellowship to a protester who faced criminal charges for assaulting a Jewish student on campus, a decision that the government claims was “reviewed and approved” by a faculty committee. The Trump administration has already moved to freeze funding and block Harvard’s ability to enroll international students in an intensifying battle over what the president has cast as a failure by the university and other academic institutions to crack down on antisemitism, and part of a broader campaign against diversity efforts and left-wing bias.  “We needed to move quickly because the consequences of revocation of visas for our international students were dire,” Garber told the Harvard Gazette. There will be a court hearing this week where Harvard will seek to extend the restraining order, he said.Administration officials are pressuring schools including Columbia, Cornell, Northwestern and other elite universities to institute broad policy changes, raising concerns over academic freedom, free speech and government interference. On Tuesday, Secretary of State Marco Rubio ordered US embassies worldwide to stop scheduling new interviews for student-visa applicants as the Trump administration weighs stricter vetting of social-media profiles, a move that will impact higher education across the country.Published on May 27, 2025  The Trump administration is escalating its campaign against Harvard University, directing federal agencies to terminate or transition all non-critical contracts with the Ivy League school, potentially affecting over 0 million in funding.

Harvard though has been front and center in the White House’s campaign, with the administration suspending more than .6 billion in federal research money and saying the school won’t be able to receive new funding. Trump has also repeatedly called for Harvard to lose its tax-exempt status, which would have significant financial implications, even with the school’s billion endowment.

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Trump admin moves to cancel all federal contracts with Harvard in antisemitism crackdown

Trump admin moves to cancel all federal contracts with Harvard in antisemitism crackdown
“The U.S. General Services Administration (GSA) is assisting all federal agencies in a review for termination or transition of their federal government contracts with Harvard University and affiliates,” the letter says. “This review aligns with the Administration’s directive that all federal contracted services steadfastly uphold and advance agency strategic priorities.”
“I am considering taking Three Billion Dollars of Grant Money away from a very antisemitic Harvard, and giving it to TRADE SCHOOLS all across our land,” Trump said in a post on social media. “What a great investment that would be for the USA, and so badly needed!!!”Trump on Monday also threatened to also divert billions in grant dollars away from the university.Harvard didn’t immediately respond to a request for comment.Gruenbaum referred to alleged discrimination at the Harvard Law Review. A federal task force recently called out the Review’s award of a ,000 fellowship to a protester who faced criminal charges for assaulting a Jewish student on campus, a decision that the government claims was “reviewed and approved” by a faculty committee. To regain its program certification, Harvard was given 72 hours to provide six categories of information about foreign students over the past five years, including disciplinary records and video of those engaged in protests. Harvard still hasn’t turned over the requested information.The letter alleges that Harvard has continued to “engage in race discrimination, including in its admissions process and in other areas of student life” and says that the government is “aware of recent events at Harvard University involving anti-Semitic action that suggest the institution has a disturbing lack of concern for the safety and wellbeing of Jewish students.”The Trump administration has already moved to freeze funding and block Harvard’s ability to enroll international students in an intensifying battle over what the president has cast as a failure by the university and other academic institutions to crack down on antisemitism, and part of a broader campaign against diversity efforts and left-wing bias.   The Trump administration is escalating its campaign against Harvard University, directing federal agencies to terminate or transition all non-critical contracts with the Ivy League school, potentially affecting over 0 million in funding.

“We needed to move quickly because the consequences of revocation of visas for our international students were dire,” Garber told the Harvard Gazette. There will be a court hearing this week where Harvard will seek to extend the restraining order, he said.Harvard though has been front and center in the White House’s campaign, with the administration suspending more than .6 billion in federal research money and saying the school won’t be able to receive new funding. Trump has also repeatedly called for Harvard to lose its tax-exempt status, which would have significant financial implications, even with the school’s billion endowment.Homeland Security Secretary Kristi Noem has argued that Harvard’s responses to the government’s requests to provide information about misconduct by foreign students were insufficient.Administration officials are pressuring schools including Columbia, Cornell, Northwestern and other elite universities to institute broad policy changes, raising concerns over academic freedom, free speech and government interference. On Tuesday, Secretary of State Marco Rubio ordered US embassies worldwide to stop scheduling new interviews for student-visa applicants as the Trump administration weighs stricter vetting of social-media profiles, a move that will impact higher education across the country.The letter, first reported by the New York Times, asks agencies to report on their “actions or intended actions with respect to each referenced contract” by June 6.More stories like this are available on bloomberg.comPublished on May 27, 2025 President Donald Trump’s administration is moving to cancel all remaining federal contracts with Harvard University, marking the latest escalation of its battle against the oldest and richest US school. Federal Acquisition Service Commissioner Josh Gruenbaum, in a letter seen by Bloomberg News, is directing federal agencies to review their contracts, terminate those that they deem not critical and transition to other vendors if necessary. The contracts are worth an estimated 0 million, according to a person with knowlege of the matter, who asked not to named discussing the administration’s moves. The government has sought a series of changes as a condition of continuing its financial relationship with the university. It has demanded the university remake its governance, transform admissions and faculty hiring — which the administration has called discriminatory — as well as stop admitting international students who officials say are hostile to American values. Harvard President Alan Garber, who’s Jewish, has apologized for Harvard’s handling of antisemitism on campus and acknowledged that he has experienced prejudice himself at the school. But he has also said the extent of the government’s demands show that “the intention is not to work with us to address antisemitism.” The university has sued the US government over the cuts to funding as well as the block on enrolling international students. The university last week won a temporary court order blocking the government from enforcing the foreign student ban.

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COVID-19 cases rise in Karnataka, Bengaluru leads the spike

COVID-19 cases rise in Karnataka, Bengaluru leads the spike
COVID-19 cases rise in Karnataka, Bengaluru leads the spike

Karnataka has seen an uptick in COVID-19 cases, with the State reporting 80 Active cases, as of Monday. Bengaluru recorded the highest number of cases among all districts, with 73 active cases. The remaining cases were reported from Bengaluru Rural (2), Dakshina Kannada (1), Mysuru (3), and Vijayanagar (1).Published on May 26, 2025 At the national level, active COVID-19 cases stood at 1,009 on Monday, according to a Hindu report. This is a significant rise from 257 active cases on May 19, with states such as Kerala, Tamil Nadu, and Maharashtra reporting a spike.The state reported 135 positive cases from the 191 tests conducted in the past 24 hours.The NB.1.8.1 variant was detected in Tamil Nadu in April, while four cases of the LF.7 variant were reported in May. The World Health Organization (WHO) has classified both LF.7 and NB.1.8.1 as Variants Under Monitoring (VUMs), not as Variants of Concern (VOCs) or Variants of Interest (VOIs). These variants are believed to be driving the recent surge in COVID-19 cases in China and other parts of Asia.

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COVID-19 cases rise in Karnataka, Bengaluru leads the spike

COVID-19 cases rise in Karnataka, Bengaluru leads the spike
COVID-19 cases rise in Karnataka, Bengaluru leads the spike

Published on May 26, 2025 The NB.1.8.1 variant was detected in Tamil Nadu in April, while four cases of the LF.7 variant were reported in May. The World Health Organization (WHO) has classified both LF.7 and NB.1.8.1 as Variants Under Monitoring (VUMs), not as Variants of Concern (VOCs) or Variants of Interest (VOIs). These variants are believed to be driving the recent surge in COVID-19 cases in China and other parts of Asia.The state reported 135 positive cases from the 191 tests conducted in the past 24 hours.At the national level, active COVID-19 cases stood at 1,009 on Monday, according to a Hindu report. This is a significant rise from 257 active cases on May 19, with states such as Kerala, Tamil Nadu, and Maharashtra reporting a spike.Karnataka has seen an uptick in COVID-19 cases, with the State reporting 80 Active cases, as of Monday. Bengaluru recorded the highest number of cases among all districts, with 73 active cases. The remaining cases were reported from Bengaluru Rural (2), Dakshina Kannada (1), Mysuru (3), and Vijayanagar (1).

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