Companies from India to Missouri made yesterday one of the busiest for takeovers this year, announcing $47 billion of acquisitions and extending a jump that’s brought dealmaking to its highest amount since before the global financial crisis.
Sun Pharmaceutical Industries Ltd., India’s largest drugmaker by market value, agreed to buy competitor Ranbaxy Laboratories Ltd. for $3.2 billion from Japan’s Daiichi Sankyo Co., which paid 61 percent more for the company five years ago.
Indian stock-index futures swung between gains and losses as the country kicks off the world’s biggest election today. Ranbaxy Laboratories Ltd. may move after Sun Pharmaceutical Industries Ltd. agreed to buy the company.
Meda AB, the Swedish maker of the Dymista allergy medicine, has had “preliminary contact” with Mylan Inc., Chairman Bert-Ake Eriksson told a local news agency today, amid reports the U.S. company may make a takeover offer.