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Opto Circuits not to go ahead with European firm's acquisition plan
New Delhi, Oct 7 (UNI) Opto Circuits India Ltd, a medical devices maker, today said it has dropped it plans to acquire a company in Europe as it was not economically ''justifiable.'' The Bangalore-based company was evaluating the acquisition of a private medical equipment maker in a deal worth over 100 million dollars.
''Although the target company had a synergy with us, the price demanded was not 'justifiable','' the company said in a statement.
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Story first published: Tuesday, October 7, 2008, 18:37 [IST]