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Shares of Thyrocare Technologies plunged 11.5 per cent on Monday to ₹1,280.95 on the BSE during intra-day trade, as the Street gave a thumbs-down to the PharmEasy takeover deal. On Friday, PharmEay parent API Holdings signed a definitive agreement to acquire 66.1 per cent in Thyrocare Technologies from A Velumani and affiliates (promoters of Thyrocare) at ₹1,300 a share aggregating ₹4,546 crore. API Holdings also announced a mandatory open offer to acquire an additional 26 per cent at ₹1,300 a share from the public shareholders of Thyrocare. The stock closed the day at ₹1,307.15, down 9.7 per cent.
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