Daiichi Sankyo to Buy Majority Stake in Ranbaxy

Ranbaxy Laboratories Ltd. (Gurgaon, India), India’s largest pharmaceutical company, says it has signed a share purchase and subscription agreement with Daiichi Sankyo (Tokyo), under which Daiichi will acquire a 34.8% share of Ranbaxy from the Singh family. Daiichi Sankyo is also seeking to buy a further 20% stake in Ranbaxy from ordinary shareholders. The Japanese pharma firm will pay a total of $3.4 billion-$4.6 billion for the stakes, depending on the cost of the ordinary shares. The total transaction values Ranbaxy at about $8.5 billion. The deal is...

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