- Sun-Ranbaxy deal is now under public scrutiny because the Competition Commission was concerned over the concentration in molecules that the deal may bring about as this may affect the domestic players.
- The CCI has directed both the companies to make public their proposed transactions within 10 days. The companies have informed the stock exchanges about this.
- The CCI direction comes under Section 29(2) of the Competition Act, 2002 which empowers the CCI to direct the companies to publish the details of their communication within 10 days if it is of the opinion that the deal may hurt competition.
- The communication should be in a manner deemed appropriate by the CCI for bringing the knowledge to the public and persons likely to be affected by this combination.
- Sun would acquire Ranbaxy in a $ 4-billion deal that includes $800 million debt. The transaction has valued Ranbaxy at 2.2 times its revenue for 2013.
- Read at: http://www.thehindu.com/todays-paper/tp-business/competition-commission-of-india-puts-sunranbaxy-deal-under-public-scrutiny/article6363682.ece