16 Jun 08 Ranbaxy Open Offer Details
Ranbaxy Laboratories has informed the stock exchanges that Daiichi Sankyo has proposed to acquire the entire 35% stake in Ranbaxy labs which is currently held by the promoters of Ranbaxy. This will trigger an open offer as per SEBI’s Takeover Code. Daiichi Sankyo has offered Rs. 737 per share of Ranbaxy labs. The stake sale to Daiichi Sankyo will be followed by a preferential allotment of shares at a price of Rs. 732 per share and then a warrant issue at a price of Rs. 737 per warrant. These warrants will then be converted to fully paid up equity shares over a period of six to eighteen months. More details on the Ranbaxy open offer price and open offer date will be updated here in the coming few days.
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