Davis Polk is advising Daiichi Sankyo Company, Limited in connection with the $4 billion acquisition of Ranbaxy Laboratories Limited by Sun Pharmaceutical Industries Ltd. Pursuant to the transaction, Ranbaxy shareholders will receive 0.8 shares of Sun Pharma for each share of Ranbaxy.  Daiichi Sankyo, which currently holds 63.4% in Ranbaxy, will receive a stake of approximately 9% in the expanded Sun Pharma, and will have the right to nominate one Director to Sun Pharma’s Board of Directors. The transaction, which is expected to close by December 2014, is subject to shareholder, court and regulatory approvals and other customary conditions.

Daiichi Sankyo is dedicated to the creation and supply of innovative pharmaceutical products to address the diversified, unmet medical needs of patients in both mature and emerging markets. Ranbaxy is an integrated, research-based, international pharmaceutical company producing a wide range of generic medicines, trusted by health care professionals and patients across geographies. Established in 1983 and headquartered in India, Sun Pharma is an international specialty pharmaceutical company.

The Davis Polk corporate team includes partners David L. Caplan and Michael Davis, and associates Brian L. Friedman, Daniel R. Marx, Hiroshi Sugiyama and Gary Pong. Partner Ronan P. Harty and counsel Stephen M. Pepper are providing antitrust and competition advice. Partner Rachel D. Kleinberg is providing tax advice. Counsel Andrew Blau is providing executive compensation advice. Members of the Davis Polk team are based in the New York and Menlo Park offices.