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

   

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:

Politics

REUTERS SHOWCASE

Fund Raising

Fund Raising

Flipkart raises $700 million in fresh funding.   Full Article 

Reforms Push

Reforms Push

Modi may order insurance, coal reforms if vote delayed - officials.  Full Article 

Reuters Exclusive

Reuters Exclusive

India looks to sway Americans with nuclear power insurance plan  Full Article 

To Boost Growth

To Boost Growth

Crank up public spending to revive growth - chief economic adviser.   Full Article 

Bold Steps

Bold Steps

SpiceJet rescue plan marks bold bet on Indian aviation recovery.   Full Article 

New Airline

New Airline

Tata, Singapore Air venture Vistara to take off on Jan 9.  Full Article 

Online Sales

Online Sales

Knock knock. Who's there? Amazon's best-selling holiday author.  Full Article 

Hacking Attack

Hacking Attack

N.Korea says did not hack Sony, wants joint probe with U.S.  Full Article 

Reuters Poll

Reuters Poll

BSE Sensex to hit 32,980 by December 2015  Full Article 

Reuters India Mobile

Reuters India Mobile

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