India's Matrix Laboratories has acquired 95.51 percent of Belgian generic drugs distributor Docpharma through an agreed takeover bid and now plans to acquire the remaining shares via a squeeze-out.

Docpharma and Matrix said in a statement the squeeze-out bid will run from October 12 until November 2. Matrix will offer 34 euros per share, valuing the entire company at about 220 million euros ($262 million).

The Indian drug maker had earlier already purchased around 22 percent of Docpharma from previous owners and company founders, the Van Rompay family, also paying 34 euros per share.

( www.indiainfoline.com)