Astra Pharma to buyout Indian arm for Rs 375/shr

By SiliconIndia   |   Friday, 27 September 2002, 07:00 Hrs
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Sweden's Astra Pharmaceuticals and AstraZeneca have made an open offer to acquire AstraZeneca Pharma India's 12.79% stake for Rs 375 per share in cash, the company said in a release to the BSE today.

BANGALORE: Astra Pharmaceuticals holds 43,60,633 (87.21%) shares in AstraZeneca Pharma India.

The company said that pursuant to this offer, if the public shareholding falls to 10% or below of the voting capital of AstraZeneca Pharma, Astra Pharmaceuticals will make an offer to buy out the remaining outstanding shares.

The offer, which is scheduled to open on November 07, will close on December 06. Stock was up 1.65% (Rs 5.85) to Rs 360 on the BSE at 1035 hrs.

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