Daiichi Sankyo launches offer for Ranbaxy Laboratories

Daiichi Sankyo has announced the launch of an open offer for generics supplier Ranbaxy Laboratories.

The company has this week entered into a share purchase and share subscription agreement, pursuant to which it would acquire the shareholding of the Singh family and look to achieve 50.1 per cent or more of the voting capital in the company.

“In this regard, Daiichi Sankyo announced today that it will commence an open offer to the public shareholders of Ranbaxy,” the company said.

It added Daiichi Sankyo is expected to acquire the stake in Ranbaxy via a combination of the purchase of these shares, a preferential allotment of equity shares and the exercise of some or all of the share warrants issued on a preferential basis.

Last week, Daiichi Sankyo announced the final share acquisition of the company following the resolution adopted by the board of directors in June 2008.