India's Matrix buys 95.51 pct of Docpharma
India's Matrix Laboratories (MAXL.BO: Quote, Profile, Research) has acquired 95.51 percent of Belgian generic drugs distributor Docpharma (DOCH.BR: Quote, Profile, Research) through an agreed takeover bid and now plans to acquire the remaining shares via a squeeze-out.
Docpharma and Matrix said in a statement the squeeze-out bid will run from Oct. 12 until Nov. 2.
Matrix will offer 34 euros per share, valuing the entire company at about 220 million euros ($262 million).
Shares in Docpharma were suspended on Tuesday pending the statement. On Monday the shares closed at 33.50 euros each.
The Indian drug maker had earlier already purchased around 22 percent of Docpharma from previous owners and company founders, the Van Rompay family, also paying 34 euros per share.
Docpharma and Matrix said in a statement the squeeze-out bid will run from Oct. 12 until Nov. 2.
Matrix will offer 34 euros per share, valuing the entire company at about 220 million euros ($262 million).
Shares in Docpharma were suspended on Tuesday pending the statement. On Monday the shares closed at 33.50 euros each.
The Indian drug maker had earlier already purchased around 22 percent of Docpharma from previous owners and company founders, the Van Rompay family, also paying 34 euros per share.
posted by Sensex-Blog Admin at 12:33 AM
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