Blackstone Can't Claim $4M For Sun Pharma Deal, Taro Says

Law360, New York (September 12, 2012, 7:23 PM EDT) -- A Taro Pharmaceutical Industries Ltd. attorney told a New York state judge Wednesday that Blackstone Group LP doesn't deserve $3.7 million in advisory fees for a Sun Pharmaceutical Industries Ltd. tender offer, arguing the deal wasn't covered by Taro's agreement with the private equity giant. 

Hal Neier of Friedman Kaplan Seiler & Adelman LLP, who represents Israel-based Taro, said during a hearing that Taro had already paid Blackstone $5 million in fees for its work on a 2007 cash-for-equity deal with Sun Pharma. But a 2010...
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