Merck slips 5% on CCI approval for 51.8% stake acquisition by P&G

Competition Commission of India has passed an order approving the transaction involving the proposed acquisition by Procter & Gamble Overseas India B. V. of 51.8 percent equity share capital of the company.

Shares of Merck fell 5 percent intraday Tuesday after Competition Commission of India (CCI) has approved the acquisition of 51.8 percent stake in the company by Procter & Gamble Overseas.

CCI has passed an order approving the transaction involving the proposed acquisition by Procter & Gamble Overseas India B. V. of 51.8 percent equity share capital of the company.

It has also approved the proposed transfer of the non-consumer health business of the company to Merck Life Science or any of its affiliates on a going concern basis by way of slump sale.

At 12:07 hrs Merck was quoting at Rs 3,240.05, down Rs 154.95, or 4.56 percent on the BSE.

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