Daiichi Sankyo says Sun Pharma to buy Indian unit Ranbaxy
TOKYO (Reuters) - Japan's Daiichi Sankyo Co Ltd (4568.T) said on Monday Sun Pharmaceutical Industries Ltd (SUN.NS) will buy its Indian unit Ranbaxy Laboratories Ltd (RANB.NS), creating the world's fifth-largest speciality generics company.
Daiichi Sankyo said in a statement that it agrees to vote its shares in Ranbaxy in favour of the acquisition through a share swap.
It said Ranbaxy shareholders will get 0.8 Sun Pharma shares for each Ranbaxy share. The merged company will also become the largest drug firm in India.
(Reporting by Dominic Lau; Editing by Stephen Coates)
- Tweet this
- Share this
- Digg this
- Subdued investment banking hits Barclays profits |
- Libyan militants overrun Benghazi special forces base as chaos deepens
- Carnage at U.N. school as Israel pounds Gaza refugee camp |
- African girls to sue British Airways over alleged abuse by pilot
- EU and U.S. announce new sanctions on Russia over Ukraine |