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Daiichi Sankyo/Ranbaxy deal is binding, companies stress

This article was originally published in Scrip

Executive Summary

Apparently tiring of media and investor speculation about possible counter-bids and potential back-tracking, Daiichi Sankyoand Ranbaxyhave issued a statement stressing that their merger agreement is "binding and final", subject to requisite regulatory approvals. Both firms and Ranbaxy's controlling Singh family "remain committed to the transaction and…stand by the deal and confirm that the terms of the deal remain unchanged", the statement said. It added that the share transactions had been approved unanimously by both boards, and now also by shareholders, which "clears the decks for the deal to proceed as planned".

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