Since April 19, 2018, the stock of pharmaceutical company has zoomed 57% from Rs 1,510, after the Procter & Gamble Overseas India made mandatory open offer to acquire 26% stake in the company at price of Rs 1,500.36 per share.
Procter & Gamble Overseas India BV together with the Procter & Gamble Company (P&G Group) set to acquire 8.6 million equity shares of Rs 10 each of Merck representing 51.80% of the voting share capital for an aggregate purchase price consideration of up to Rs 12.90 billion.
The acquirer is set to acquire 4.3 million equity shares of Rs 10 each constituting 26% of the total outstanding capital of Merck Ltd (India) through open offer for a price of Rs 1,500.36 each. The offer opens on June 13, 2018 and close on June 26, 2018.
Merck is planning to transfer certain businesses comprising exclusively of the biopharma, performance materials and life sciences (BPL) segments to Merck Life Science Pvt Ltd for a consideration of Rs 10.52 billion after shareholders and other statutory approvals.
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