MUMBAI, India, Aug. 28 /PRNewswire/ -- Sun Pharmaceutical Industries Ltd. today announced that on August 27, 2009, Sun filed a new application with the U.S. Federal Trade Commission (FTC) and the Antitrust Division of the U.S. Department of Justice to restart the Hart-Scott-Rodino (HSR) Act waiting period in connection with the Tender Offer by Alkaloida Chemical Company Exclusive Group Ltd. (Alkaloida), a subsidiary of Sun, for all outstanding Ordinary Shares of Taro Pharmaceutical Industries Ltd. (Taro).
The Offer was commenced on June 30, 2008 in order to comply with the terms of the Option Agreement between Alkaloida and the controlling shareholders of Taro. Alkaloida exercised its options to acquire shares of Taro from the controlling shareholders on June 25, 2008. The Option Agreement required Alkaloida, promptly after exercising the options, to commence a tender offer at USD 7.75 per Ordinary Share of Taro held by other shareholders. As of 5:00 p.m., New York City time, on August 27, 2009, 32,252 Ordinary Shares had been tendered and not withdrawn from the Offer.
Greenhill & Co., LLC is acting as the Dealer Manager for the Tender Offer and MacKenzie is acting as the Information Agent for the Tender Offer.
Sun Pharmaceutical Industries Ltd.
