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Hindalco vs. Novelis: A Case on Acquisition

In: India: Acquiring its Way to a Global Footprint

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  • Sadananda Prusty

Abstract

Indian aluminium giant Hindalco acquired Atlanta-based company Novelis, a world leader in aluminium rolling and flat-rolled aluminium products, on 15 May 2007. This acquisition was done to gain immediate scale and a global footprint. Acquiring Novelis would also give Hindalco access to sheet mills that supplied to can manufacturers and auto companies. By investing in downstream Hindalco would go up the value chain and become a world leader in downstream aluminium-rolled products. It was already the biggest producer of primary aluminium in Asia and leader in copper production in India. However, many analysts believed that Hindalco had overpaid for a company that was making losses and that aluminium prices would drop by 2011. Would this acquisition prove beneficial for the shareholders?

Suggested Citation

  • Sadananda Prusty, 2012. "Hindalco vs. Novelis: A Case on Acquisition," Palgrave Macmillan Books, in: Suseela Yesudian (ed.), India: Acquiring its Way to a Global Footprint, chapter 7, pages 76-90, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-36353-3_7
    DOI: 10.1057/9780230363533_7
    as

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