Wockhardt is currently trading 2% higher at Rs 398 on reports that the Competition Commission of India (CCI) has approved the proposed acquisition of the nutrition business of the company by global dairy major Danone.
The deal worth Rs 1,575 crore would see Danone acquiring Wockhardt's nutrition business, brands as well as operational assets related to the business. This has been approved by the competition watchdog.
The proposed acquisition would transfer the nutrition business relating to protein-based supplement products, in-licenced pre-biotic and pro-biotic products, and child nutritional products of Wockhardt Group to G&K and Danone Asia Pacific, group companies of Danone SA.
The stock had touched a high of Rs 404 in intraday trades. A combined 60,000 shares have changed hands on the counter on the NSE and the BSE till 1026 hours.
