Daiichi Sankyo Says Tender Offer For Ranbaxy To Begin Aug. 16
This article was originally published in PharmAsia News
Daiichi Sankyo announced it would, as expected, open its tender offer for shares of India's Ranbaxy Laboratories on Aug. 16. Japan's third-largest drug maker expects to pay $1.6 billion for more than 92.5 million shares of Ranbaxy, Daiichi said in a statement submitted to the Tokyo Stock Exchange. The buy is part of a $4.6 billion deal with Ranbaxy's major owners, the Singh family headed by CEO Malvinder Singh. With ownership of Ranbaxy, Daiichi would become the world's ninth-largest maker of generic drugs. (Click here for more
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