New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
April 7, 2014
06:16 EDTRBXLYSun Pharmaceutical acquires Ranbaxy for $3.2B
Sun Pharmaceutical and Ranbaxy announced that they have entered into definitive agreements pursuant to which Sun Pharma will acquire 100% of Ranbaxy in an all-stock transaction. Under these agreements, Ranbaxy shareholders will receive 0.8 share of Sun Pharma for each share of Ranbaxy. This exchange ratio represents an implied value of '457 for each Ranbaxy share, a premium of 18% to Ranbaxy’s 30-day volume-weighted average share price and a premium of 24.3% to Ranbaxy’s 60-day volume-weighted average share price, in each case, as of the close of business on April 4. The transaction has a total equity value of approximately $ 3.2B. The combination of Sun Pharma and Ranbaxy creates the fifth-largest specialty generics company in the world and the largest pharmaceutical company in India, the companies said. The transaction will need approval by majority in number representing 75% in value of the shares present and voting at the shareholder meetings of each of Sun Pharma and Ranbaxy.
News For RBXLY From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
November 18, 2014
14:59 EDTRBXLYRanbaxy sues FDA for rescinding approval of Nexium, Valcyte copies, Reuters says
Subscribe for More Information
November 14, 2014
06:25 EDTRBXLYRegulator asks Sun Pharma to rework proposed merger with Ranbaxy, WSJ reports
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use