Daiichi Says Pfizer Has Only Until July 7 To Bid For India’s Ranbaxy
This article was originally published in PharmAsia News
U.S. drug maker Pfizer has until July 7 to make a competitive bid for Ranbaxy Laboratories of India, according to the current bidder, Japan's Daiichi Sankyo. Pfizer, which had not confirmed its interest, was reported to be considering a hostile bid for Ranbaxy, offering to buy the 65 percent share of the company not held by members of the family now controlling it. Under Indian law, Daiichi, which seeks to buy a controlling interest in Ranbaxy, must make a bid to buy an additional 20 percent of the company at the current share price. (Click here for more - a subscription may be required
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