Daiichi Sankyo acquires 52.5% of Ranbaxy Laboratories

Ranbaxy Laboratories Ltd has announced that M/s. Daiichi Sankyo Company Ltd ("Daiichi Sankyo"), Japan, has acquired 52.5% of the Issued, Subscribed and Fully Paid-up Equity Shares of Rs 5 each ("Shares") of the Company comprising 220,690,423 shares.

Daiichi has acquired 92,519,126 Shares under Open Offer pursuant to Regulations 10 & 12 of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 1997.

46,258,063 Shares have been allotted on Preferential basis.

The acquisition of Shares from existing Promoters of the Company (First of two tranches): - 81,913,234 No. of Shares.

Accordingly, the Company has become a subsidiary of Daiichi Sankyo.

The Ranbaxy stock was trading at Rs.261.70, up by Rs.5.50 or 2.15%. The stock hit an intraday high of Rs.267.50 and low of Rs.253.05. The total traded quantity was 555599 compared to 2 week average of 1382825.

Source : Equity Bulls

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