Compagnie des Indes

The year was 1664. French formed their first trading company in India 'Compagnie des Indes'.

Along came the BEIC and both the European companies fought numerous battles and claimed their own piece of companies, lands, governments and kingdoms in India.

French did a 'hostile acquisition' and acquired 'Pondicherry' .

No One called it a 'Badly Prepared acquisition'.

More than 3 centuries later Lafarge acquired Indian cement Units of Tata Steel, Raymond etc.

No One called it a 'Badly Prepared acquisition'.

On a side note Lafarge also bid a 'Hostile acquisition' for Blue Circle (Britian's largest Cement Maker in 2000).

No One called it a 'Badly Prepared acquisition'.

Now Arcelor is a 22Billion USD takeover target for 'Mittal Steels'.

France's 'Maurem & Prom' oil firm might be a 3Billion USD takeover target for 'IOC'.

People who were a few minutes away tomtomming about Liberalization are suddenly finding the deals 'Badly Prepared'. 'Meaningless'. War cries for economic patriotism are being heard from the land which gifted the 'Lady of Liberty'.

My take- In an open society where globalization is the norm 'Business' is always the winner.
Mittal Steel hasnot committed a grave crime for godsake. All it has done is to make a bid. Atleast analyze it based on global standards of commerce. Then if you find it unviable disapprove it.

'Compagnie des Indes' was finally wiped out from India as there were much stronger and bigger players in the trade.

History will repeat.

cheers
Nature Interpreter