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Govt. approves acquisition of up to 77.80% stake of Merck by P&G

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On 08 October 2018

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 Overseas B.V. for acquisition of up to 77.80% of the paid-up of the Company (comprising of 51.80% of the paid-up of the Company from the current promoters of the Company and up to 26% of the paid-up of the Company from its public shareholders pursuant to an open offer under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, October 10 2018. 15:21 IST
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