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.
(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)
- Tweet this
- Share this
- Digg this
- Boxer Sarita Devi faces action after refusing medal at Asian Games
- New NATO leader offers olive branch to Russia
- Brookfield wins Revel Casino auction, but loser vows to fight
- Billionaire Detroit business leader says "blight is like a cancer"
- CANADA STOCKS-TSX fall gets deeper as financial, energy shares drag
India could run out of a critical medicine in its free HIV/AIDS drugs programme in three weeks due to bureaucratic bungling, a senior government official said, leaving more than 150,000 sufferers without life-saving drugs for about a month. Full Article