NEW DELHI, Feb 8 (PTI): Shasun Pharmaceuticals is seeking shareholders'
approval for its proposed merger with Bangalore- based drug firm Strides
Arcolab.
In a filing to the BSE, Shasun Pharmaceuticals said it is seeking shareholders nod for the merger scheme through a postal ballot.
Last year, the companies announced plans to merge, a move that will create an entity among the top 15 listed domestic drug makers with a turnover of over Rs 25 billion.
As part of the deal, Shasun will amalgamate with Strides in an all-stock transaction. Shashun shareholders will receive 5 equity shares of Strides for every 16 shares held by them in Shasun.
In a filing to the BSE, Shasun Pharmaceuticals said it is seeking shareholders nod for the merger scheme through a postal ballot.
Last year, the companies announced plans to merge, a move that will create an entity among the top 15 listed domestic drug makers with a turnover of over Rs 25 billion.
As part of the deal, Shasun will amalgamate with Strides in an all-stock transaction. Shashun shareholders will receive 5 equity shares of Strides for every 16 shares held by them in Shasun.
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