It is said that “Sh** Happens”,but when it becomes too frequent,a visit to a doctor might just be the answer to the problem.
Wish we had some doctor to tend to the reeling global economy and the bleeding Stock Markets.The Stock Markets have plundered the Share Holders wealth to a humoungous proportion and it ain’t doing any good to the corporate sector either.
Ranbaxy-Daichi Deal has been in news for quite sometime touted as one of the biggest deals in the pharmaceutical sector.The deal sure means a lot to Ranbaxy as they would be richer by few thousand crores,though the owner’s vision has been questioned a lot.
Here’s a recent development which might set Ranbaxy by over a 1000 crores in taxes alone.This is attributed to a Stock Market Jagron known as ‘Block Deal’. Read more about block deal here
Manrag was kind enough to bring this out.Here is why Ranbaxy might end up on the losing side.
“It is concerned with the Block deal execution which will make it intersting for the people who are closely watching the Ranbaxy-Daichii deal.Actually now there is a twist in tale, Ranbaxy may have to cough up 1000 Cr as tax as according totheagreementthedeal has to be executed through stock exchange and now the 1 % requirement of the price tag is nowhere close.This is because the price agreed was 737 per share but due to market meltdown and U.S FDA ordering probe into few of Ranbaxy’s drug, ranbaxy price has come to 270’s which is no where close to 737 price.So Ranbaxy is now asking Special Courtesy from SEBI but SEBI says that if it agrees then it would not set good example for othersIt will be interesting to see how things pan out for Ranbaxy”
