$12 bn bid: Sun closes in on Organon buy

Mumbai: Sun Pharmaceutical Industries has decided to proceed with a binding offer of $12 billion for Organon & Co, taking the company to the final stages of its most ambitious overseas acquisition bid as it looks to become a branded and innovative drug-making powerhouse, said people in the know.Mumbai-based Sun, led by billionaire founder Dilip Shanghvi, 70, has completed detailed due diligence that lasted over three months and is now finalising a financing package before submission of a fir...