Gautam Adani, the richest man in Asia, entered a deal with Swiss building-materials firm Holcim Ltd.
The acquisition of a 63% stake is valued at $10.5 billion.
The purchase specifically involves Holcim's Indian operations.
Read more from Bloomberg.
The Bureau of Labor Statistics reported in May the all-items inflation index surged 8.6% over the past year, the highest increase since 1981.