Nod from two exchanges would allow both companies to consummate for transaction
CCI has put the multi-billion dollar Sun-Ranbaxy deal for public scrutiny (Photo: PTI/Files)
New Delhi: The $4-billion merger of Ranbaxy Labs with Sun Pharmaceutical has got clearance from the two leading stock exchanges — BSE and NSE.
The ‘no-objection’ from the two exchanges would allow the two companies to file their scheme of amalgamation with the High Court for further clearance of the deal and marks one of the numerous regulatory approvals that Sun Pharma and Ranbaxy need to consummate for the transaction.
The deal had separately come under scanner of the markets regulator securities exchange board of India for alleged insider trading violations and the present ‘no-objection’ from the exchanges.
( Source : PTI )
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