Daiichi Sankyo Looks To Emerging Markets

June 2008 | M&A News Alert

In an effort to diversify and increase its presence in emerging markets, Japanese drugmaker Daiichi Sankyo has purchased a controlling stake in Indian generics firm Ranbaxy Laboratories, and their not through yet. On June 12 Daiichi struck a deal to purchase the 34.8% stake of the founders and controlling shareholders of Ranbaxy, the Singh family, for US$17.17 a share. The deal precipitated an open offer to shareholders for a further 20% of outstanding shares at the same price, in accordance with Indian regulatory guidelines.

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