Sun Pharmaceutical Industries, India's largest pharma company, announced the closure of its merger with Ranbaxy Laboratories. This makes them world's fifth largest maker of generic drugs.

Following the merger, Ranbaxy will be delisted from Indian stock exchanges, and each Ranbaxy shareholder will receive 0.8 share of Sun Pharma for each share of Ranbaxy.
The Punjab and Haryana High Court approved the merger earlier this month, while the US Federal Trade Commission (FTC) had approved the merger in January 2015. On March 23, the Competition Commission of India (CCI) had approved the Sun Pharmaceutical and Ranbaxy sale of seven brands to Emcure Pharma to comply with the conditional nod for their merger.
Source-Medindia