The Hindu Business Line : `Ranbaxy will bid for Merck only at fair value'

Ranbaxy Laboratories Ltd, which recently said it would be interested in acquiring Merck KGaA's generic business when it comes up for bidding, has said it would offer a competitive bid but does not want to acquire it at any overvalued costs.

Refusing to comment on the estimates by analysts on what such an acquisition would entail, Mr Malvinder Mohan Singh, CEO and MD, Ranbaxy Laboratories said the company would work out a strategic approach, suggesting that it could bid with backing from private equity players. However, he said, "We will not get into a bidding race."

Merck's business may only open for bidding at the end of this month, he added, saying it may be too premature to comment further.

Merck's business in Western Europe was of strategic interest and Ranbaxy believes it would have a great pipeline to offer to Merck's markets, and the two businesses had great synergies.

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