Shearman Reps Sun Pharma In Long-Sought $600M Taro Buyout

Law360, New York (August 13, 2012, 2:15 PM EDT) -- Israel's Taro Pharmaceutical Industries Ltd. has accepted an improved, $39.50 per-share cash offer from majority shareholder Sun Pharmaceutical Industries Ltd. to buy up the rest of the company, the drugmakers announced Monday, ending a bitter takeover battle that has raged for years.

The deal, worth approximately $600 million, comes less than a month after Taro shot down a $24.50 per-share cash offer from India-based Sun Pharma, calling the bid inadequate and not in the best interest of its minority shareholders. Taro's board of directors accepted the...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.