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

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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)

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