SunPharma Strikes Out Again With $600M Taro Offer

Law360, New York (February 8, 2013, 12:26 PM EST) -- Sun Pharmaceutical Industries Ltd. has shelved a $600 million buyout offer for Israel's Taro Pharmaceutical Industries Ltd. that had been contested by private equity shareholders, the parties said Friday, marking the second botched deal in the past five years for the companies.

In a brief joint statement, the pharmaceutical outfits said they decided together to walk away from deal, in the works since Taro's board approved Sun Pharma go-private bid in August. India's Sun Pharma, Taro's single-largets investor, would have squeezed out other shareholders in the...
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