Fulford India jumps 20 percent on Merck & Co's delisting offer

Reuters Market Eye - Fulford India Ltd , a domestic subsidiary of Merck & Co Inc , jumped 20 percent to its maximum daily limit, after it approved a delisting offer from its parent company

Merck is offering an indicative price of 1,150 rupees per share, a 67.7 percent premium to Fulford India's Friday's close, with the floor price set at 701.71 rupees, according to the BSE filing.

Merck & Co owns 74.95 percent stake in Fulford, and is looking to acquire the remaining 25.05 percent.

(Reporting by Abhishek Vishnoi)