Buzzing Stock: Claris Lifesciences to reward investors with Rs.4100cr
DSIJ Intelligence / 28 Jul 2017
Claris Lifesciences today disclosed that it has completed the sale of its Global injectables business to Baxter and has received Rs. 625mn consideration.
Claris Lifesciences today disclosed that it has completed the sale of its Global injectables business to Baxter and has received Rs. 625mn consideration. Company plans to utilise this fund to pay back to investors.
However, the mode for the same will be announced by Oct 15, 2017 after discussion with its advisors.
The deal was cleared by US after the Claris and Baxter agreed to divest two products from its fold to meet the US federal trade criteria of acquisition being anti-competitive.
With this deal company will not have any operating asset left and might look at options of delisting or share buy-back to reward investors.
The stock over the last 5 days has jumped from Rs.360 to Rs.382. After touching the high of 394.2, it saw some correction and settled at Rs. 382.5 at 2pm.
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