Sun Pharma to buy Organon & Co. for $12.5 billion
Business
Sun Pharma is set to buy U.S.-based Organon & Co. for $12.5 billion, its biggest global deal ever, and the largest by any Indian company since Tata Steel bought Corus in 2007.
The purchase includes $4.5 billion for Organon's shares (that's a hefty 53% premium) and $8.5 billion of its debt.
Sun Pharma expands women's health, biosimilars
This move will seriously boost Sun Pharma's lineup in women's health and biosimilars, areas with lots of growth potential.
Organon picked Sun over other bidders, backed by big banks like J.P. Morgan and Citi.
Even with all that debt, investors seem excited: Organon's shares rose, while Sun Pharma's shares fell on Friday, showing real confidence in Sun Pharma's strategy to grow smarter (and bigger) in the US market.