As one of his last acts as prime minister of India, Manmohan Singh has ignored a call from the opposition not to make significant decisions while the election is underway.
Singh has given a thumbs-down to a $400 million investment by the U.S. specialists in leveraged takeovers KKR & Co. LP (Nasdaq:KKR), formerly known as Kohlberg Kravis Roberts. KKR planned to take a 38% stake in Gland Pharma, which develops and manufactures generic injectable drugs. Indian media have speculated that Singh may have been influenced by KKR’s takeover of RJR Nabisco in the 1980s, which inspired the movie Barbarians at the Gate.
