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Ranbaxy-Sun Pharma deal gets nod from BSE, NSE

22 Jul 2014 Evaluate

The two leading stock exchanges -- BSE and NSE -- have given clearance to $4-billion merger of Ranbaxy Laboratories with Sun Pharmaceutical Industries. The ‘no-objection’ from the two exchanges would allow both the entities to file their scheme of amalgamation with the High Court for further clearance of the deal and marks one of the numerous regulatory approvals that Sun Pharma and Ranbaxy need to consummate for the transaction.

The deal had separately come under scanner of the markets regulator SEBI for alleged insider trading violations and the present ‘no-objection’ from the exchanges.

The combination of Ranbaxy and Sun Pharma will create the fifth-largest speciality generics company in the world and the largest pharmaceutical company in India. The two firms now need clearances of the High Court and the Competition Commission of India (CCI), among others.

Ranbaxy Laboratories is an integrated, research based, international pharmaceutical company producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies.

Peers
Company Name CMP
Sun Pharma Inds. 1665.25
Dr. Reddys Lab 1220.75
Cipla 1232.90
Zydus Lifesciences 928.85
Lupin 2311.75
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