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Novartis ups bid for India unit to $111 mln
The logo of Swiss drugmaker Novartis is seen on the top of an office building at the company's plant in Basel in this January 28, 2009 file photo.
Credit: Reuters/Arnd Wiegmann/Files
ZURICH |
ZURICH (Reuters) - Swiss drugmaker Novartis AG is upping an offer to increase its stake in its India unit to $111 million or 450 rupees ($15.9) per share, from a previous 351 rupees, it said on Thursday.
The bid seeks to increase Novartis' stake in Novartis India to nearly 90 percent from a previous 51 percent.
"This proposal represents Novartis' only and final price revision to this offer, as May 28 is the last day on which the price can be revised," the company said in a statement.
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