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24In May 2013, Ranbaxy also pleaded guilty to felony charges in the US, relating to the manufacture and distribution of certain adulterated drugs made at Ranbaxy’s manufacturing facilities in India and had to pay a fine of USD 500 million.25Further, in September 2013, the company’s Mohali facility was also banned from manufacturing pharmaceuticals which were intended to be exported to the US.26This was followed by the ban on the Toansa facility in Punjab for lapses in quality control and adherence to procedure.27C. Daiichi Daiichi is a global pharmaceutical company with corporate origin in Japan.28In 2008, Daiichi acquired a controlling stake in Ranbaxy. However, the value of Daiichi’s investments has halved over the years, as Ranbaxy has not been able to ensure compliance of its factories supplying to the US, with USFDA guidelines.2922. For more information regarding the acquisition of controlling stake by Daiichi in Ranbaxy, please refer to our M&A Lab at .com/information/navigation/navigation2/ma-lab/ma-lab/article/ranbaxy-daiichi-deal-dissected.html, last accessed on June 24, 2014 23. , last accessed on June 24, 201424. , last accessed on June 24, 201425. , last accessed on June 24, 2014 26. , last accessed on June 24, 201427. , last accessed on June 24, 201428. , last accessed on June 24, 201429. 30. , last accessed on June 24, 201431. -ranbaxy-deal/articleshow/34992210.cms, last accessed on June 24, 2014II. Deal SnapshotMerging CompanyRanbaxySurviving CompanySun PharmaShare Swap Ratio0.8 share of Sun Pharma of face value of INR 1/- each will be allotted to the shareholders of Ranbaxy for each share of INR 5/- each held by them in Ranbaxy.Implied value per shareINR 457 for each Ranbaxy share, representing an 18 percent premium to Ranbaxy’s 30-day volume weighted average share price 30Total equity value of the TransactionUSD 3.2 billion (USD 4 billion including payment to NCD holders)A brief chronology of events pertaining to the Transaction is provided below:DateEventApril 6, 2014Resolutions regarding the amalgamation agreement and other matters passed at the Board of Directors meetings of Sun Pharma and RanbaxyApril 30, 2014Andhra Pradesh High Court issues notices to the Securities and Exchange Board of India (“SEBI”),