Corporate Updates

Sun Pharma-Ranbaxy merger gets BSE, NSE approval

BSE and NSE have approved the merger of Ranbaxy Laboratories with Sun Pharmaceutical clearing a at regulatory hurdle facing consummation of the pharma deal.

Report stated that the approval of the BSE and the NSE will allow Sun Pharma to delist Ranbaxy shares from the two exchanges.

The exchanges approved the $4-billion merger deal last week. There are reports that the two companies will need clearances of the high courts of Gujarat and Punjab & Haryana.

Source: IIFL

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