News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Sun Pharmaceutical Industries Ltd to Take Taro Pharmaceutical Industries Ltd. (TARO) Private for $571 Million


8/13/2012 7:03:03 AM

India's Sun Pharmaceutical Industries Ltd. (BSE: 524715) will take Taro Pharmaceutical Industries Ltd. (NYSE: TARO) private and merge it with Sun Pharmaceutical affiliates, after raising its offer. Taro's board of directors accepted the offer to purchase of at $39.50 in cash by Sun, which currently owns 66% of the company and all of its founders' shares, giving Sun 77.5% of the voting rights in the company. Sun Pharmaceuticals closed the deal after raising its offer from $24.50 per share. The new offer amounts to $571 million When the merger is completed, Taro will become a private company, and will be delisted from the New York Stock Exchange.


comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES