The Competition Commission of India is not ready to approve of the proposed acquisition of Ranbaxy by Sun Pharmaceutical, say reports.
The watchdog said Thursday that it has made initial observations about the $3.2 billion takeover that suggest the deal may hurt competition. The CCI how now asked the companies to provide more information on the deal.
The companies now have 10 working days to submit the information.
The companies first agreed on a merger deal last April; Ranbaxy is currently owned by Japan-based Daiichi Sankyo. Should all the necessary regulators approve of the deal, the newly combined company would be the world’s fifth-largest generic drug maker, reports say.
Full content: Business Standard
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
ConocoPhillips Acquires Marathon Oil for $22.5 Billion in Major Energy Sector Consolidation
May 29, 2024 by
CPI
Judge Denies Amazon’s Bid to Dismiss FTC Lawsuit Over Prime Membership Practices
May 29, 2024 by
CPI
Germany and France Advocate for Major EU Competition Reform
May 29, 2024 by
CPI
Equifax Accused of Monopolizing Employment Verification Market in New Suit
May 29, 2024 by
CPI
Car Battery Makers to Challenge EU Cartel Charges in Brussels
May 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI