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Sun Pharmaceutical Industries Ltd to acquire Ranbaxy Laboratories Ltd in $4 billion transaction


Sunday, 6 Apr 2014 10:57pm EDT 

Sun Pharmaceutical Industries Ltd and Ranbaxy Laboratories Ltd:Announced that they have entered into definitive agreements pursuant to which Sun Pharma will acquire 100 pct 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 pct. to Ranbaxy’s 30-day volume-weighted average share price and a premium of 24.3 pct. to Ranbaxy’s 60-day volume-weighted average share price, in each case, as of the close of business on April 4, 2014.The transaction has a total equity value of about $3.2 billion. 

Company Quote

860.0
13.05 +1.54%
6:20am EDT