BUSINESS

Piramal Healthcare to acquire U.S. firm

CHENNAI: Piramal Healthcare and Minrad International of the U.S., a provider of generic inhalation anesthetics, jointly announced that they have signed a definitive merger agreement for Piramal to acquire Minrad. Under the agreement, Minrad will merge with the newly incorporated wholly-owned subsidiary of Piramal. Total consideration for the merger and acquisition will be about $40 million, says a release.

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