Daiichi acquires controlling stake in Ranbaxy

The Japanese buyer aims to increase its initial stake in IndiaÆs largest pharmaceutical company to 50.1% for a total outlay of up to $4.6 billion.

Japanese pharmaceutical major Daiichi Sankyo will acquire a controlling interest in IndiaÆs largest pharmaceutical company Ranbaxy Laboratories at a price that values the Indian company at $8.5 billion.

The founders and controlling shareholders of Ranbaxy, the Singh family, have agreed to sell their 34.8% interest to Daiichi Sankyo at a price of Rs737 $17.17 a share. The deal, which also involves the issue of new shares and warrants to Daiichi, will precipitate an open offer to other shareholders in Ranbaxy,...

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