Mylan makes open offer for 20% stake in Matrix
MP Laboratories (Mauritius) Ltd along with US-based generic pharma firm Mylan Laboratories Inc has issued an open offer to the shareholders of Indian drug maker Matrix Laboratories Ltd to acquire a 20 per cent stake in the company.
By PTI |
MUMBAI: MP Laboratories (Mauritius) Ltd along with US-based generic pharma firm Mylan Laboratories Inc has issued an open offer to the shareholders of Indian drug maker Matrix Laboratories Ltd to acquire a 20 per cent stake in the company.
DSP Merrill Lynch, the manager to the offer, on behalf of MP Laboratories and the PAC (Person acting in concert) Mylan made the offer to acquire about 3.08 crore equity shares of Rs 2 each of Matrix, representing a 20 per cent stake, at a price of Rs 306 per share.
The offer opens on October 20 and closes on November 8, Matrix informed the Bombay Stock Exchange today.
Matrix had said yesterday that Mylan would acquire upto 71.5 per cent stake in the company for around Rs 3,424 crore (736 million dollars).
Mylan was to purchase a 51.5 per cent stake pursuant to an agreement with certain selling shareholders and from the company's Executive Chairman N Prasad and also pick up a 20 per cent stake through an open offer made to Matrix' remaining shareholders.
DSP Merrill Lynch, the manager to the offer, on behalf of MP Laboratories and the PAC (Person acting in concert) Mylan made the offer to acquire about 3.08 crore equity shares of Rs 2 each of Matrix, representing a 20 per cent stake, at a price of Rs 306 per share.
The offer opens on October 20 and closes on November 8, Matrix informed the Bombay Stock Exchange today.
Matrix had said yesterday that Mylan would acquire upto 71.5 per cent stake in the company for around Rs 3,424 crore (736 million dollars).
Mylan was to purchase a 51.5 per cent stake pursuant to an agreement with certain selling shareholders and from the company's Executive Chairman N Prasad and also pick up a 20 per cent stake through an open offer made to Matrix' remaining shareholders.
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