| Sun Pharmaceuticals Industries has entered into definitive merger agreement (Merger Agreement) with Taro Pharmaceutical Industries (Taro), pursuant to which Sun Pharma has agreed to acquire all of
the outstanding ordinary shares of Taro not currently held by Sun Pharma.
The acquisition of remaining outstanding shares of Taro will result in Sun acquiring all of the public shares of Taro. With the consummation of the transaction, the combined entity will be in a position to leverage Sun Pharma's global strength and capabilities that shall pave way to better serve the needs of patients and healthcare professionals.
The company will acquire 8,086,818 shares constituting 21.52% of the total outstanding shares of Taro for a consideration of USD 347.73 million (approx. Rs 2891.76 crore). |