Ranbaxy to sell majority stake to Japan's Daiichi at 737 rupee/shr
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K.Karthik Raja
Jun 11, 2008, 2:54:20 AM6/11/08
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Ranbaxy to sell majority stake to Japan's Daiichi at 737 rupee/shr
Wednesday, Jun 11
NEW DELHI - Ranbaxy Laboratories Ltd. today said Japanese drug
major Daiichi Sankyo will buy a controlling stake in the company at
737 rupees per share.
The deal is likely to valued in the range of $3.4 bln-$4.6 bln, a
joint
statement by both the companies said.
Ranbaxy shares continued their upward march from Tuesday after the
news of the acquisition broke.
At noon, the shares had gained 4.4% to trade at 585.30 rupees,
reflecting the investors' enthusiasm over the premium being paid by
the buyer.
Wednesday, Jun 11
NEW DELHI - Ranbaxy Laboratories Ltd. today said Japanese drug
major Daiichi Sankyo will buy a controlling stake in the company at
737 rupees per share.
The deal is likely to valued in the range of $3.4 bln-$4.6 bln, a
joint
statement by both the companies said.
Ranbaxy shares continued their upward march from Tuesday after the
news of the acquisition broke.
At noon, the shares had gained 4.4% to trade at 585.30 rupees,
reflecting the investors' enthusiasm over the premium being paid by
the buyer.
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