Amid apprehensions of economic slowdown, India Inc. seems to have resorted to mergers & acquisitions to keep their business going. The number of M&A deals announced in June stands at 51 with value at $5.35 billion, as against 49 deals and $2.92 billion in May, reveals Dealtracker, a monthly report by Grant Thornton. According to the report, the most significant deal was Japan’s Daiichi Sankyo Co. acquiring 34.8 per cent stake in Ranbaxy Laboratories Ltd. for $2.40 billion. This is followed by GMR Infrastructure Ltd ’s acquisition of 50 per cent stake in Netherlands based InterGen NV for $1.10 billion. There were 20 domestic deals (both acquirer and target company being Indian) with an announced value of $1.01 billion and 31 cross-border deals with an announced value of $4.33 billion. Nineteen of the cross border deals were outbound, where Indian companies acquired business outside the country and valued at $1.90 billion. Twelve were inbound deals where international companies or their subsidiaries bought Indian business with an announced value of $2.44 billion. […]