SINGAPORE--A proposed $200 million merger between India's Strides Arcolab and Shasun Pharmaceuticals is about to be tested by Shasun's shareholders.
Shasun said it would conduct a mail ballot of shareholders for the merger plan, which would put the combined company on India's list of its 15 largest drugmakers. Strides has offered 5 equity shares for every 16 shares held by Shasun stockholders, India's Business Standard reported.
After the merger was announced Sept. 29, Shasun's revenues grew by 13% in 2014's final quarter, according to its quarterly report.
- read the Shasun quarterly report
- and the Business Standard story