Govt approves P&G's proposal for acquisition of up to 77.8% stake in Merck

Out of the 77.80% paid-up equity share capital, 51.80% was held by current promoters and up to 26% by public shareholders: Merck

Drug firm Merck Ltd said Wednesday the government has approved the proposal of Procter & Gamble Overseas India BV to acquire up to 77.80 per cent stake in the company.
 

The Department of Pharmaceuticals has approved the proposal of Procter & Gamble Overseas India BV for acquisition of up to 77.80 per cent of the paid-up equity share capital of the company, Merck Ltd said in a filing to BSE.

The company further said out of the 77.80 per cent paid-up equity share capital, 51.80 per cent was held by current promoters and up to 26 per cent by public shareholders,