Shares of Merck zoomed nearly 19 per cent today as Procter & Gamble announced it will acquire 51.80 per cent stake for Rs 1,289.88 crore in the India-listed drug firm.
The stock soared 18.65 per cent to end at Rs 1,791.55 on BSE. During the day, it jumped 20 per cent to Rs 1,812.
On NSE, shares of the company surged 18.59 per cent to settle at Rs 1,791.25.
The company's market valuation moved up by Rs 458.86 crore to Rs 2,973.86 crore.
In terms of equity volume, 1.04 lakh shares of the company were traded on BSE and over 7 lakh shares changed hands on NSE during the day.
Procter & Gamble will acquire 51.80 per cent stake for Rs 1,289.88 crore in India listed drug firm Merck Ltd as part of a global deal under which it is taking over German firm Merck KGaA's international consumer health business.
The global deal is for about 3.4 billion euro (Rs 27,677 crore) in cash.
P&G will acquire Merck's majority shareholding in Merck Ltd (India) and make a mandatory tender offer to minority shareholders.
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