A court in India has reportedly removed a stay on the merger between pharmaceutical giants Sun Pharmaceutical and Ranbaxy after allegations surfaced of insider trading.
The $3.2 billion merger was put on hold after a group of investors filed to have an investigation launched into the merger, claiming insider trading had occurred before the news of the deal was announced. Ranbaxy shares spiked by 24 percent three days before its plans to be acquired by Sun were announced.
The Andhra Pradesh High Court reportedly removed the stay on the merger because the nation’s Securities and Exchange Board is now probing the allegations.
Full content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Massachusetts AG Sues Insulin Makers and PBMs Over Alleged Price-Fixing Scheme
Jan 14, 2025 by
CPI
Apple and Amazon Avoid Mass Lawsuit in UK Over Alleged Collusion
Jan 14, 2025 by
CPI
Top Agent Network Drops Antitrust Suit Against National Association of Realtors
Jan 14, 2025 by
CPI
Weil, Gotshal & Manges Strengthens Antitrust Practice with New Partner
Jan 14, 2025 by
CPI
Russian Court Imposes Hefty Fine on Google for Non-Compliance with Content Removal Orders
Jan 14, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – CRESSE Insights
Dec 19, 2024 by
CPI
Effective Interoperability in Mobile Ecosystems: EU Competition Law Versus Regulation
Dec 19, 2024 by
Giuseppe Colangelo
The Use of Empirical Evidence in Antitrust: Trends, Challenges, and a Path Forward
Dec 19, 2024 by
Eliana Garces
Some Empirical Evidence on the Role of Presumptions and Evidentiary Standards on Antitrust (Under)Enforcement: Is the EC’s New Communication on Art.102 in the Right Direction?
Dec 19, 2024 by
Yannis Katsoulacos
The EC’s Draft Guidelines on the Application of Article 102 TFEU: An Economic Perspective
Dec 19, 2024 by
Benoit Durand