Sun Pharma gains; Meda says no takeover talks
Reuters Market Eye - Shares in Sun Pharmaceutical Industries Ltd(SUN.NS) rise 2 percent after Swedish drugmaker Meda AB(MEDAa.ST) said it was not involved in discussions with a potential buyer, contradicting reports that the two companies were in talks.
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Two sources with direct knowledge of the situation had told Reuters on May 31 that Sun Pharmaceutical was in talks to buy Meda for $5 billion to $6 billion.
After those reports, investors had worried Sun would have to assume significant debt to finance the purchase.
(Reporting by Abhishek Vishnoi)
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