Ranbaxy mulls joint bid for Merck generics ops; sees due diligence in Feb UPDATE |
|
|
|
Published
:
Fri, 19 Jan 2007 08:53
|
LONDON (AFX) - Ranbaxy Laboratories Ltd aims to start due diligence procedures next month on Merck KGaA's generic drugs unit, which it is considering bidding for inconjunction with private equity firms, said CEO Malvinder Mohan Singh.'The (diligence) process will start in February,' Singh told AFX News' partner agency dpa-AFX.Provided the price is reasonable, 'Merck generics would be a gain for our business and a strategic fit for our global activities,' he added.Meanwhile, Singh told the Financial Times Ranbaxy is in talks with unnamed private equity firms, adding: 'A lot of people have approached us ... We are currently evaluating how to take it forward.'Merck put its generics business up for sale earlier this month.Other possible bidders touted by the market include Novartis, which has not ruled out making an approach.newsdesk@afxnews.comjlw/jmsCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
|
|
|
|
|
|
|
| Stock
Quotes * |
|
NASDAQ
|
|
2792.28 |
22.57 (
0.81 %)
|
| SYMBOL (
2012-01-19 ) |
| LAST |
CHANGE
|
|
CARNIVAL
(
11:35am )
|
|
2017.00 |
46.00 (
2.42 %)
|
|
WHITBREAD
(
11:35am )
|
|
1662.99 |
33.99 (
2.09 %)
|
| SYMBOL (
2012-01-19 )
|
| LAST |
CHANGE
|
|
IBM
(
12:34pm ) |
|
181.50 |
0.43 (
0.24 %)
|
| SYMBOL (
2012-01-19 )
|
| LAST |
CHANGE
|
|
|
Print this Story
Ranbaxy mulls private equity alliance to bid for Merck generics unit 