On April 19, 2018, Procter & Gamble Overseas India (acquirer) has entered into a sale and purchase agreement, wherein it is proposed that the acquirer shall purchase 8.59 million shares (51.8% stake) from the promoters of Merck at a price of Rs 1,500 per share, aggregating up to Rs 12,899 million, it added.
As of March 2018, the promoters – Emedia Export Company MBH, Merck International Beteiligungen GmbH and Chemitra GmbH – together held 51.8% stake in Merck.
Individual shareholders held 28.72% stake in Merck, followed by insurance companies (7.55%), foreign portfolio investors (3.66%) and mutual funds (1.98%) and others (6.17%), the shareholding pattern data shows.
At 10:13 am; Merck was trading 15% higher at Rs 1,740 on the BSE, as compared to 0.22% rise in the S&P BSE Sensex. A combined 226,793 shares changed hands on the counter on the BSE and NSE so far.