Abbott Laboratories subsidiary Abbott India is to merge with chemical and pharmaceutical group Solvay India.
Solvay shareholders will get three shares of Abbott India for every two they hold.
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Once the merger is complete, Abbott will hold about 75% in the combined entity Anui Mithani of UBS Investment Bank told the Business Line.
The news follows Abbott Laboratories’ takeover of Solvay’s Belgian pharmaceutical business in 2009 for €4.8bn ($6.4bn).
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