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Drug maker Dr Reddy’s share in Dutch firm OctoPlus has risen to 98.6 per cent after the post closing acceptance period that ended on February 26.
During the post closing acceptance period 27.46 lakh shares, representing 5.2 per cent of the total shares and a value of €14 lakh, have been tendered for acceptance under the open offer.
Dr Reddy’s had announced in October last year its intent to buy the Dutch speciality pharmaceutical company for an offer price of €27.39 million.
“As a result of the acquisition of more than 95 per cent of the shares by Dr Reddy’s, the company and OctoPlus will jointly request NYSE Euronext Amsterdam to terminate the listing and trading of the shares as soon as possible,” the company said in a statement.
amit.mitra@thehindu.co.in
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