The announcement comes at a time when Ranbaxy is struggling with quality compliance issues as all its four plants in India have been banned by the USFDA from exporting products to the US. Similarly, Sun's Karkhadi plant is also barred from shipping products to the US for violation of good manufacturing norms.Under the agreements announced today, Ranbaxy shareholders will receive 0.8 share of Sun Pharma for each share of Ranbaxy, representing an implied value of Rs 457 for each Ranbaxy share, a premium of 18 per cent to Ranbaxy's 30-day volume-weighted average share price and a premium of 24.3 per cent to Ranbaxy's 60-day volume-weighted average share price, in each case, as of the close of business on April 4, 2014."The transaction has a total equity value of approximately USD 3.2 billion," the two companies said in a joint statement.