M&A / The mega pharma deal is valued at Rs 20,000 crore
Ranbaxy promoters sell stake to Daiichi In one of the biggest buyouts in Indian corporate history, Japanese drug maker Daiichi Sankyo Co Ltd has picked up the entire 34.8 per cent promoters stake in Ranbaxy Laboratories at a price of Rs 737 per share.
Staples Inc picks up Corporate for $2.6 b Office supplies company Staples Inc agreed to buy Corporate Express NV for 1.68 billion euros ($2.6 billion) in an all-cash deal after lifting its offer three times, becoming worlds largest direct distributor of office supplies to companies.
Orchid says deal positive Chennai-based Orchid Chemicals & Pharmaceuticals Ltd sees the acquisition of majority stake by Daiichi Sankyo in Ranbaxy Laboratories as a positive development, according to a top company official.
Logica plans Chennai centre Logica, a provider of IT and business service, on Wednesday, announced it has started project EURIDICE, an intelligent cargo system to streamline the freight transportation in Europe.
MARKETS / Stage smart recovery
Sensex gains 296 points
The 30-share Sensex ended the day at 15,185.32, a rise of 296.07 points, or 1.99 per cent, over the previous close. The index moved in a range of 15,225.81 and 15,009.48 points.
Why did Bangalore’s Royal Challengers fail to make an impact at the Indian Premier League matches? What should Mallya and Dravid do to improve the team’s performance next year? DH had invited readers’ opinion on the issue. While many of our readers believe that all that is required is better team spirit and more practise, others opined that the team was only fit to play test cricket. They felt that revamping the team with young players and adopting a new stratergy was the way forward.
