Ranbaxy Laboratories clarifies on bid for Merck Generics Business

Ranbaxy Laboratories Ltd has announced that, While it is not the Company's policy to comment on M&A proposals but in view of the erroneous reports in sections of the media on the bids for the Merck Generics Business, the Company wishes to clarify that it has made a non binding bid for the asset, at a value it considers fair and reasonable. The figure of USD 6 Bn mentioned in the media reports is factually incorrect and speculative.

Mr. Malvinder Singh, CEO and MD, of the Company said, "We are looking to evaluate the asset and are going to be very practical about it. We are not in a rat race for acquisitions but are focused on creating value for our shareholders."

Source : Equity Bulls

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