Under the agreement, Ranbaxy shareholders will receive 0.8 share of Sun Pharma for each share of Ranbaxy.
"This exchange ratio represents an implied value of Rs 457 for each Ranbaxy share, a premium of 18 percent to Ranbaxy's 30-day volume-weighted average share price and a premium of 24.3 percent to Ranbaxy's 60-day volume-weighted average share price, in each case, as of the close of business on April 4,” the agreement said.
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 combined entity will have operations in 65 countries, 47 manufacturing facilities across five continents and a significant platform of specialty and generic products marketed globally.
By Ruchi Singh
reporter
Park Sae-jin
swatchsjp@ajunews.com