Shareholders approve J.B. Pharma merger with Torrent Pharma
Proposed amalgamation now awaits NCLT approval; shareholders to receive 51 Torrent Pharma shares for every 100 JB Pharma shares held
Proposed amalgamation now awaits NCLT approval; shareholders to receive 51 Torrent Pharma shares for every 100 JB Pharma shares held
The endorsement follows overwhelming support for the share swap preceding the merger,
The transaction, approved by both companies' boards of directors, is expected to close by the end of the first quarter of 2026
The merged entity ‘Aster DM Quality Care’ will be jointly controlled by Aster Promoters and Blackstone
The transaction is expected to result in approximately $175 million to support further development of IMG-007
Combined entity is better positioned to compete in increasingly competitive generics industry
The combined entity will enable us to better serve the needs of patients, healthcare professionals and our customers around the world
The overall transaction is expected to conclude over next 12-15 months subject to receipt of all relevant shareholder and regulatory approvals
Agreed Price of US$43 per share to deliver 48% premium to unaffected price on May 25, 2023
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