Merck falls 14% in two days after CCI nod for acquisition by P&G

The stock locked in the lower circuit for the second straight day, down 5% at Rs 3,064 on the BSE.

Shares of Merck were locked in the lower circuit for the second straight day, down 5% at Rs 3,064 per share on the BSE, after the Competition Commission of India (CCI) approved the acquisition of 51.8% stake in the company by Procter and Gamble Overseas.

The stock has fallen 14% from its all-time high of Rs 3,549 recorded on Tuesday, September 3, 2018, on the BSE in intra-day trade. Till 11:49 am; a combined 42,423 equity shares changed hands and there were pending sell orders for 9,417 shares on the NSE and BSE.

“The Competition Commission of India