India Sun vows \\\'appropriate action\\\' as merger halted

India's Sun Pharma said Saturday it will take "appropriate action" after a court suspended the generic giant's $3.2-billion takeover of troubled rival Ranbaxy while insider trading allegations are probed. The Andhra Pradesh High Court order, dated April 25 but which came to light late this week, marks a setback to the deal. The ruling follows a petition submitted by two investors seeking an investigation into accusations of insider trading in Ranbaxy shares ahead of the takeover announcement earlier in the month. "The matter is sub judice and hence we cannot make specific comments but we would be taking appropriate action as advised by our legal counsel," a Sun Pharmaceutical Industries spokesman said, according to AFP.