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Ranbaxy holders may now convert 0% convertibles
By Devika Patel
Knoxville, Tenn., Oct. 27 - Ranbaxy Laboratories Ltd. informed the Bombay Stock Exchange that its $440 million in zero-coupon convertible bonds due 2011 have become convertible as a result of a change-of-control event in which Daiichi Sankyo Co. Ltd. purchased more than 50% of the company's issued share capital.
Ranbaxy, based in Haryana, India, is a research-based pharmaceutical company.
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