Sun Pharmaceutical Industries Ltd.

Sun Pharmaceutical Industries will be seeking shareholders approval for its $4 billion acquisition of Ranbaxy Laboratories in a court convened meeting at Vadodara on August 22, 2014. The Gujarat High Court had issued an order on July 16, directing the company to hold a meeting of its equity shareholders to consider and approve the scheme of arrangement between Sun Pharma and Ranbaxy.

In April this year in one of the biggest deals involving two Indian drug makers, Sun Pharmaceutical Industries had announced it would fully acquire rival Ranbaxy Laboratories in an all-stock transaction valued at $3.2 billion along with nearly $800 million debt of the Gurgaon based firm. The combined entity would become the largest pharmaceutical company in India post the acquisition, with estimated combined revenue of $4.2 billion, and the fifth-largest specialty generics company in the world.

Recently, the two leading stock exchanges -- BSE and NSE -- gave clearance to $4-billion merger of Ranbaxy Laboratories with Sun Pharmaceutical Industries.

Sun Pharmaceutical Industries is an international, integrated, specialty pharmaceutical company. It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in India, US and several other markets across the world.