India regulator examines Sun, Ranbaxy merger trading: source

By Himank Sharma and Zeba Siddiqui MUMBAI (Reuters) – India's market regulator will ask Ranbaxy Laboratories and Sun Pharmaceutical Industries for more information about their planned $3.2 billion merger and seek trading data from stock exchanges after shares in Ranbaxy surged in the run-up to the deal, a senior source at the regulator said on Wednesday. Ranbaxy shares jumped 24 percent while trading volume tripled in the three sessions ahead of Monday's announcement that Sun Pharma would buy it in what would be the biggest drug sector deal in the Asia-Pacific region this year. We will ask stock exchanges on details of buy and sell trades in both Ranbaxy and Sun shares," said the Securities and Exchange Board of India (SEBI) source, who declined to be identified because he is not authorized to speak with the media on the matter.