Sun Pharma, Ranbaxy shares up as court lifts stay on merger
Quotes

Sun Pharma, Ranbaxy shares up as court lifts stay on merger

Last Updated: Monday, May 26, 2014, 10:10
 
 Comment 0
 
Sun Pharma, Ranbaxy shares up as court lifts stay on merger
New Delhi: Shares in Sun Pharmaceutical Industries Ltd and Ranbaxy Laboratories Ltd rose after a court lifted a temporary stay it imposed on the acquisition of Ranbaxy by Sun Pharma, paving the way for the completion of the $3.2 billion deal.

The Andhra Pradesh High Court last month ordered an "interim status quo" on the deal, pending a decision on a petition for a probe into alleged insider trading. The petition was filed in late April by two individuals who requested that the court ask the market regulator SEBI and the two main stock exchanges to halt the deal and order a probe.

Shares in Sun Pharma gained as much as 3.88 percent, while Ranbaxy jumped as much as 4.5 percent.


Reuters

First Published: Monday, May 26, 2014, 10:10


Comments


comments powered by Disqus
Jaguar high-wire water crossing
Jaguar high-wire water crossing
2015 DFW Auto Show
2015 DFW Auto Show
Samsung Galaxy S6, Galaxy S6 Edge
Samsung Galaxy S6, Galaxy S6 Edge
Hyundai i20 Active
Hyundai i20 Active
Forbes` 10 Richest Indians 2015
Forbes` 10 Richest Indians 2015

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved