Markets

Aurobindo Pharma shares surge 3.6%

Rajalakshmi S | | Updated on: Nov 12, 2014

Shares of Aurobindo Pharma surged 3.64 per cent to Rs 1,065.90 on the NSE after the company informed the exchanges that Aurobindo Pharma USA Inc (Aurobindo Pharma Ltd's 100 per cent subsidiary) has emerged as the highest and best bidder to acquire Natrol Inc for $132.5 million (about Rs 800 crore).

Natrol manufactures and sells nutritional supplements in the US and other international markets.

The deal is pending final approval by the United States Bankruptcy Court for the District of Delaware, Aurobindo said in a statement.

The company beieves that Natrol is an excellent strategic fit and provides the right platform for creating a fully-integrated OTC platform in the US and other international markets.

Barclays provided financial advice to Aurobindo on the deal, while Sullivan & Cromwell LLP was the company's legal counsel.

Published on November 25, 2017

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