INDIAN DRUG GROUP POISED FOR LANDMARK TAKEOVER

Leading Indian pharmaceuticals group Dr Reddy's is poised to take over Betapharm, one of Germany's front-ranking generic drug manufacturers, after making a 470 million euros (320 million pound) buyout offer to owner 3i, the UK venture capitalists. The deal would be the biggest overseas acquisition by an Indian drugs group and comes days after Lakshmi Mittal, the NRI steel tycoon, launched his group's 18.6 billion Euro hostile bid for Luxembourg-based Arcelor.

The Hindu (http://www.hindu.com/thehindu/holnus/006200602070371.htm)

(http://www.bloomberg.com/apps/news?pid=10000102&sid=aYW4iYmkPTMc&refer=uk)