Sun Pharma gains; Meda says no takeover talks

Wed Jun 5, 2013 2:37pm IST

A trader works at a stock brokerage in Ahmedabad November 26, 2010. REUTERS/Amit Dave/Files

A trader works at a stock brokerage in Ahmedabad November 26, 2010.

Credit: Reuters/Amit Dave/Files

Related Topics

Stocks

   
Priyanka Gandhi Vadra, daughter of Congress party chief Sonia Gandhi, adjusts her flower garlands as she campaigns for her mother during an election meeting at Rae Bareli in Uttar Pradesh April 22, 2014. REUTERS/Pawan Kumar

Election 2014

More than 814 million people — a number larger than the population of Europe — are eligible to vote in the world’s biggest democratic exercise.  Full Coverage 

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.

(To read full story, click here)

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)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Global Economy

Global Economy

Chinese factories stalling as euro zone business picks up  Full Article 

M&M Upgraded

M&M Upgraded

Credit Suisse upgrades Mahindra & Mahindra to 'outperform'  Full Article 

HRW Report

HRW Report

Bigoted teachers lead marginalised Indian school kids to drop out  Full Article 

Breakingviews

Breakingviews

Manchester United’s crisis has silver lining  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage