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Deal watch

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Deal watch

Every month, we bring you a listing of the biggest deals struck by Indian companies in India and abroad. Our partner: global professional services firm Ernst & Young. Here are the deals that were struck in June 2008.
Print Edition: Jul 27, 2008

 
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Every month, we bring you a listing of the biggest deals struck by Indian companies in India and abroad. Our partner: global professional services firm Ernst & Young. Here are the deals that were struck in June 2008.

Deal particulars: Daiichi Sankyo, Japan’s second- largest pharma company, has agreed to acquire a majority stake in Ranbaxy Laboratories for $3.4-4.6 billion (Rs 14,620-19,804 crore). Under the deal, Daiichi will acquire the entire 35 per cent stake of the promoter family, increase its stake by 14 per cent through a preferential offer and launch an open offer for a minimum 20 per cent stake. The deal is expected to be completed by March 2009.

Impact analysis: The deal, the largest for a listed company in India, is a win-win one for both companies. While Ranbaxy has a strong presence in the generics segment in emerging countries, Daiichi has its strengths in new drugs in the advanced markets and together, the companies will have a presence across 56 countries.

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