Ranbaxy slumps, Sun Pharma surges on $3.2b acquisition
Apr 07 2014 , Mumbai
Ranbaxy shares had surged 32.6 percent in six consecutive sessions of gains till Friday's close.
Sun Pharmaceutical shares rose as much as 4 percent.
Under terms of the agreed deal, Ranbaxy shareholders will get 0.8 of a Sun Pharmaceutical share for each Ranbaxy share they own. Daiichi Sankyo (4569.T) said in a statement that it will hold a stake of about 9 percent in Sun Pharmaceutical after the deal.