Sun Pharma Buys Out Remainder Of Caraco

Law360, New York (February 22, 2011, 6:18 PM EST) -- Sun Pharmaceutical Industries Ltd. will acquire the remaining 24 percent of Caraco Pharmaceutical Laboratories that it does not already own, the companies said Tuesday, further consolidating the generic-drug makers into a formidable market player.

The deal, valuing Caraco's stock at $5.25 a share, was struck Monday, Caraco announced.

Sun Pharma and subsidiary Sun Pharma Global Inc. had previously proposed a transaction to go private, by which the companies or one or more of their affiliates would acquire all of the outstanding shares of Caraco common stock...
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