India's Ranbaxy pulls out of bid for Merck's generic ops - sources |
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Published
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Tue, 20 Mar 2007 08:42
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LONDON (AFX) - India's Ranbaxy Laboratories Ltd has pulled out of the race to buy Merck KGaAs generic operations unit due to what it considers irrational valuation, sources close to Ranbaxy told AFX News.A senior Ranbaxy official said the company is not on an acquisition spree, and will not acquire anything that will not add shareholders' value.The official said Ranbaxy will only consider rational valuations in any of its acquisitions.sourav.mishra@thomson.comsmi/ra/jfrCOPYRIGHTCopyright AFX News Limited 2007. 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
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Ranbaxy mulls private equity alliance to bid for Merck generics unit 