Fulford India jumps 20 pc on Merck & Co's delisting offer

Tags: News
Fulford India Ltd, a domestic subsidiary of Merck & Co Inc, jumped 20 per cent to its maximum daily limit, after it approved a delisting offer from its parent company

Merck is offering an indicative price of 1,150 rupees per share, a 67.7 percent premium to Fulford India's Friday's close, with the floor price set at 701.71 rupees, according to the BSE filing.

Merck & Co owns 74.95 percent stake in Fulford, and is looking to acquire the remaining 25.05 percent.

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