The proceeding was getting delayed for a very simple procedural bottleneck. The copies of the contract had to be signed by all parties concerned and because the documents were voluminous the deal was taking time. The owners of India world were getting emotional as they felt they were giving away their baby for adoption. Finally, the press meets started about an hour late. Boy, did it create a sensation. 5 million for a few web portals! The next morning at the Mumbai airport I bought copies of all the dailies and reveled in seeing the large banner headlines about the deal.
It was a great feeling going through the process of an acquisition during that day. E&Y had done the valuation and were explaining the details.DSP Merrill Lynch was working out all the finer points of the M&A. I am not too sure how many communications professionals have gone through this kind of experience. The press conference was scheduled for 6.00 pm at the Oberoi Hotel. I went to the venue early. The conference hall was bursting at the seams with the media.
Years ago, I attended a Las Vegas show where the hypnotist on platform did just what everyone prospective. he hypnotized his volunteers right before our eyes.