India to reject Fosun’s $1.3b takeover of Gland Pharma

India to reject Fosun’s $1.3b takeover of Gland Pharma

REUTERS/Bobby Yip

India is poised to reject Shanghai Fosun Pharmaceutical Group Co.’s proposed $1.3 billion takeover of an Indian drugmaker, according to people familiar with the matter, scuppering the biggest-ever Chinese acquisition in the country.

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