The Competition Commission of India (CCI) on Tuesday approved Procter & Gamble Co’s acquisition of 51.8 per cent stake in pharma major Merck.
The acquisition is part of a larger deal between Mumbai-based Merck’s German parent and US-based Procter & Gamble Co. The deal had triggered a mandatory open offer under which P&G Overseas India BV along with P&G Co had offered to buy an additional 26 per cent from the public shareholders of Merck at ₹1,500.36 a share.