Govt. approves acquisition of up to 77.80% stake of Merck by P&G
On 08 October 2018
Merck announced that the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, Government of India, by a letter dated 08 October 2018, has approved the proposal dated 31 May 2018 of Procter & Gamble Overseas India B.V. for acquisition of up to 77.80% of the paid-up equity share capital of the Company (comprising of 51.80% of the paid-up equity share capital of the Company from the current promoters of the Company and up to 26% of the paid-up equity share capital of the Company from its public shareholders pursuant to an open offer under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.Powered by Capital Market - Live News
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