Indian Billionaire Dilip Shanghvi’s Sun Pharma To Buy Organon In Deal Valued At $11.8 Billion |
Sun Pharmaceutical Industries—controlled by Indian billionaire Dilip Shanghvi—has agreed to buy Organon & Co. in a transaction valuing the New York-listed healthcare company at $11.8 billion.Under the deal, Sun Pharma will buy all of Organon, including debt, at $14 a share in an all-cash transaction, the companies said in a joint statement on Monday. Shares of Sun Pharma climbed as much as 9% in early afternoon trading in Mumbai. Sun Pharma has been stepping up acquisitions to bolster contributions from overseas markets, which accounted for about two-thirds of the company’s........