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Merck falls 14% in two days after CCI nod for acquisition by P&G

The stock locked in the lower circuit for the second straight day, down 5% at Rs 3,064 on the BSE.

SI Reporter  |  Mumbai 

Merck falls 14% in two days after CCI nod for acquisition by P&G

Shares of were locked in the lower circuit for the second straight day, down 5% at Rs 3,064 per share on the BSE, after the (CCI) approved the acquisition of 51.8% stake in the company by Procter and Gamble Overseas.

The stock has fallen 14% from its all-time high of Rs 3,549 recorded on Tuesday, September 3, 2018, on the in intra-day trade. Till 11:49 am; a combined 42,423 equity shares changed hands and there were pending sell orders for 9,417 shares on the and

“The has approved the proposed acquisition by India BV of 51.8% equity share capital of the company," said in a press release to the exchanges on Tuesday.

"An approval has also been granted for the proposed transfer of the non-consumer health business of the company to Life Science or any of its affiliates on a going concern basis by way of slump sale," the drug company added.

Since April 19, 2018, the stock of Merck zoomed 133% from Rs 1,510 after the India made a mandatory open offer to acquire 26% stake in the company at price of Rs 1,500.36 per share.


First Published: Wed, September 05 2018. 12:00 IST
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