Navigation Links
Sun Pharma Extends Tender Offer for Taro
Date:7/14/2008

MUMBAI, India, July 14 /PRNewswire/ -- Sun Pharmaceutical Industries Ltd. (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUN PHARMA, BSE: 524715) today announced its subsidiary, Alkaloida Chemical Company Exclusive Group Ltd. (Alkaloida), has extended the Expiration Date of the Tender Offer for purchase of all outstanding Ordinary Shares of Taro Pharmaceutical Industries Ltd. (Taro). The Offer has been extended to 5:00 p.m., New York City time, on Tuesday, September 2, 2008. This extension of the Expiration Date of the Tender Offer was recommended by the Honorable Judge Dr. Michal Agmon-Gonen J. of the Tel-Aviv District Court in order to allow the court to rule on the merits of the litigation commenced against Alkaloida and its affiliates by Taro and certain of its directors regarding the applicability of the special tender offer rules under the Israeli Companies Law to the Offer. Such recommendation for extension was agreed upon by all parties to the litigation.

The Offer was commenced on June 30, 2008 in order to comply with the terms of the Option Agreement between Alkaloida and the controlling shareholders of Taro. Alkaloida exercised its options to acquire shares of Taro from the controlling shareholders on June 25, 2008. The Option Agreement required Alkaloida, promptly after exercising the options, to commence a tender offer at USD 7.75 per Ordinary Share of Taro held by other shareholders. The Offer had previously been scheduled to expire at 12:00 midnight, New York City time, on Monday, July 28, 2008. As of 5:00 p.m., New York City time, on July 11, 2008, 700 Ordinary Shares had been tendered and not withdrawn from the Offer.

Greenhill & Co., LLC is acting as the Dealer Manager for the Tender Offer and MacKenzie is acting as the Information Agent for the Tender Offer.

About Sun Pharmaceutical Industries Ltd.

Established in 1983, listed since 1994 and headquartered in India, Sun Pharmaceutical Industries Ltd. (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUNPHARMA, BSE: 524715) is an international, integrated, speciality pharmaceutical company. It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in India, U.S. and several other markets across the world. In India, the company is a leader in niche therapy areas of psychiatry, neurology, cardiology, diabetology, gastroenterology, and orthopedics. The company has strong skills in product development, process chemistry, and manufacturing of complex API, as well as dosage forms. More information about the company can be found at http://www.sunpharma.com.

Contacts

Uday Baldota Mira Desai

Tel +91 22 6645 5645, Xtn 605 Tel +91 22 6645 5645, Xtn 606

Tel Direct +91 22 66455605 Tel Direct +91 22 66455606

Mobile +91 98670 10529 Mobile +91 98219 23797

E mail uday.baldota@sunpharma.com E mail mira.desai@sunpharma.com

Brunswick Group for Sun Pharma MacKenzie Partners

Nina Devlin / Erin Becker Robert Marese

+1 212 333 3810 +1 212 929 5500

Arad Communications for Sun Pharma Greenhill

Gali Dahan Ashish Contractor

+972 3 7693320 +1 212 389 1537


'/>"/>
SOURCE Sun Pharmaceutical Industries Ltd.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Anemia and tropical diseases; Is pharmacogenomics ready for the clinic?
2. Mylan Commences Tender Offers and Consent Solicitations for Its 5.750% Senior Notes Due 2010 and 6.375% Senior Notes Due 2015 in Connection With Its Proposed Acquisition of Mercks Generic Pharmaceutical Business
3. Arena Pharmaceuticals to Present at the NewsMakers in the Biotech Industry Conference
4. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Zyloprim(R)
5. The Pharma & Life Sciences Best Practice Database: an Industry Resource for Successful Techniques and Performance Benchmarks for Reaching the Top
6. Schering-Plough/Merck Pharmaceuticals Announce FDA Filing Acceptance of New Drug Application for Loratadine/Montelukast Tablet
7. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Adipex-P(R)
8. National Pharmaceutical Council Announces New Strategic Focus, Search for New Leadership
9. AKELA Pharma Inc. announces positive results for the extension part of its Phase IIb Fentanyl TAIFUN(R) trial
10. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Coreg(R)
11. Innocoll Agrees the Sale of its CollaRx(R) GENTAMICIN SURGICAL IMPLANT and European Sales and Marketing Infrastructure to EUSA Pharma
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/23/2017)... ... ... March is National Kidney Month – the perfect time to pause and thank ... Every day, two kidneys filter about 120 to 150 quarts of blood. Put another ... regulating fluid levels and blood pressure, supporting bone health and promoting red blood cell ...
(Date:3/23/2017)... ... March 23, 2017 , ... The ... from the NCQA. The accreditation covers StayWell’s asthma, coronary artery disease, congestive heart ... granted to organizations that have excellent programs for the delivery and improvement of ...
(Date:3/23/2017)... ... March 23, 2017 , ... ... program owned and organized by HMP Communications Holdings, LLC, today announced that ... within its nationwide network of wound centers interested in becoming Certified Wound Specialist ...
(Date:3/23/2017)... , ... March 23, 2017 , ... ... families and businesses of the greater Fort Collins area, has unveiled a collaboration ... ongoing community involvement program. Donations to this worthy cause may now be made ...
(Date:3/23/2017)... ... ... After raising more than $1.135 million ($1,479,231 AUD) from nearly 20,000 backers ... crowdfunding history, has established a U.S. Headquarters in New York City, FaceCradle USA, LLC, ... excited to be operating on U.S. shores, where most of our initial crowdfunding backers ...
Breaking Medicine News(10 mins):
(Date:3/23/2017)... YORK , March 23, 2017 ... (NASDAQ: MYL), Allergan PLC (NYSE: AGN), Horizon Pharma PLC (NASDAQ: ... These Generic Drugs stocks are part of the Healthcare sector, ... 22 nd , 2017, with the NYSE Health Care Index ... companies in the S&P 500 also were up nearly 0.1% ...
(Date:3/23/2017)... Global Colposcope Market by Manufacturers, Countries, Type and Application, Forecast ... in North America , Europe ... , Middle East and ... regions, type and application. ... Browse 190 Tables and Figures, 19 Major Company Profiles, spread ...
(Date:3/23/2017)... 23, 2017 During the ... Brussels , My UV Patch, La ... habits into life-saving ones, was awarded the Diamond ... in 2016, the "Nudging for Good" Award aims ... desirable for people to change behaviour and adopt ...
Breaking Medicine Technology: