SEBI nod for Daiichi Sankyo’s offer on Ranbaxy
Daiichi Sankyo is planning to acquire up to 9.21 crore shares at Rs 737 each through the open offer. The Japanese company had announced earlier that it was buying out 34.81 per cent stake in Ranbaxy held by the Singh family. It will also acquire 9.5 per cent through preferential allotment of equity shares and another 4.5 per cent through share warrants to be issued on a preferential basis. Daiichi Sankyo’s stake in Ranbaxy could go up to 58 per cent after the open offer. The entire deal is valued at $3.4-4.6 billion.
However this would increase the stake of Daiichi by 20% in Ranbaxy. Ranbaxy’s share price went up 2.8 per cent to close at Rs 524 on Monday after the final word from SEBI.
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