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Daiichi Sankyo offer subscribed

New Delhi, Sept. 4

The Japanese drugmaker Daiichi Sankyo Co Ltd.'s open offer for 20 per cent additional shares in Ranbaxy Laboratories Ltd. is fully subscribed, according to sources. Daiichi Sankyo's open offer for an additional 20 per cent stake in Ranbaxy at Rs 737 a share closed on Thursday. Details of the transaction were not available. Company officials declined to comment on the offer and said that information may be released tomorrow. Earlier in June, Daiichi Sankyo offered to buy a 34.8 per cent stake in Ranbaxy from the Singh family.

Japan's thirdlargest drugmaker has also secured European antitrust approval to buy Ranbaxy. The European Commission, the 27-nation European Union's antitrust regulator in Brussels, announced the approval in a statement on Thursday. Meanwhile, the Indian Government is yet to approve the deal. The Foreign Investment Promotion Board had initially cleared the proposal but later referred it to the Cabinet Committee on Economic Affairs due to procedural issues. -Our Bureau

Related Stories:
Ranbaxy - Open Offer: Accept
Daiichi Sankyo open offer for Ranbaxy from August 16

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