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Daiichi Sankyo, Ranbaxy deal is final

By Staff
|

New Delhi, Jul 17: Ranbaxy and Japan's Daiichi Sankyo today said its deal is ''final and binding''.

''The deal to take controlling stake in Ranbaxy Laboratories is ''binding and final''. Daiichi Sankyo, Ranbaxy and the Singh family stand by the deal and confirm that the terms of the deal remain unchanged,'' a joint statement said. There were fears that the probe by the US Department of Justice (DoJ) on Ranbaxy will jeopardise its deal with Daiichi Sankyo.

''The Daiichi Sankyo deal is very much on track. There's absolutely no change in any of the terms or conditions or pricing of the deal. There is no exit clause in the agreement with Daiichi Sankyo,'' Ranbaxy CMD Malvinder Mohan Singh had said.

In June this year, Daiichi Sankyo had announced that it will buy out 34.8 per cent stake held by the Singh family in Ranbaxy and make an open offer, starting August eight and closing on August 27, for acquiring an additional 20-per cent stake in the Indian drug major.

UNI

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