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Orchid Chemicals in the verge of Takeover
- Filed under: Pharma Industry
- Date: Apr 12,2008
So on thursday ranbaxy was down like to 216 rs because ranbaxy told the market that they are not interested in hostile takeover , may be thats the strategy they say it and get orchid chemical price down and had Solrex acquire 3.32% stake in Orchid Chemicals on Friday, reports CNBC-TV18. The company shareholding in the Indian Pharmaceuticals major has reached 14.72%, which is close to 15% open offer trigger. Sources said other Ranbaxy promoter group companies might have also garnered shares in Orchid.