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| Dilip Shanghvi |
It would appear that Sun Pharmaceuticals founder, Managing Director and CEO Dilip Shanghvi, was not the buyer of Daiichi Sankyo's one-swoop sale of its 8.9% stake in the company it received for selling Ranbaxy Laboratories.
In a filing in response to questions by the Bombay Stock Exchange, Sun said, "We hereby state and confirm that the promoter, Mr. Dilip Shanghvi has neither purchased nor agreed to purchase any shares of our company in the said transaction."
The response did not say that Shanghvi would not buy nor whether he'd buy under someone else's name or another company's name, but it appeared to be a definitive "no."
The Business Standard story also backtracked on the report, which had relied on "bankers close to the deal."
The purchase of the Daiichi Sankyo stake would have nearly doubled Shanghvi's own 9.61% stake in the company he founded and still runs. He and other stockholders actually saw a decline in their share values due to the massive sale.
- here's the story from The Economic Times
- read more from Business Standard