India's Dr. Reddy's eyes UCB India for $135M

Dr. Reddy's Laboratories is reportedly discussing acquisition of UCB India for $135 million, according to a source cited by the news service Reuters. Neither company responded to the report.

Reuters cited its source as "a person with direct knowledge of the matter." The same person, it said, described the proposed buyout as an all-cash deal.

Dr. Reddy's recently reported cash and market investments are worth $456 million, according to the news service, indicating the buyer could easily handle $135 million to buy the India unit of Belgium-based UCB.

- here's the story from Reuters