Navigation Links
Sun Pharma Extends Tender Offer for Taro

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 As of 5:00 p.m., New York City time, on July 11, 2008, 700 Ordinary Shares had been tendered and not withdrawn from the Offer.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


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 E mail

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:
(Date:12/1/2015)... ... December 01, 2015 , ... McLean, VA., December 1, ... fixed price per sprint agile development contract to support the National Geospatial-Intelligence Agency's ... years, provides software engineering, infrastructure, as well as operations and sustainment support to ...
(Date:12/1/2015)... Auburn, CA (PRWEB) , ... December 01, 2015 ... ... software and clinical solutions for the care management and population health arenas, is ... on providing clinical and cost containment services, has successfully implemented the ACUITY Complete ...
(Date:12/1/2015)... Park, CA (PRWEB) , ... December 01, 2015 , ... ... (XTC) has selected 10 semi-finalists to head to Las Vegas for CES 2016, the ... judges including CEO of Consumer Technology Association Gary Shapiro, Founding Partner of Pacific Investments ...
(Date:12/1/2015)... ... , ... With FCPX Overlay: Grit , users can apply a grit ... are truly endless, all with a click of a mouse. Each user has full ... depth of field and more, all within Final Cut Pro X. , With FCPX ...
(Date:12/1/2015)... ... December 01, 2015 , ... ... as a Modern Man for 2015. , Angeleno Magazine is a division ... States. Established in 1994, Modern Luxury includes more than 50 magazine titles across ...
Breaking Medicine News(10 mins):
(Date:12/1/2015)... Ohio , Dec. 1, 2015 ... to its GeneSight® Psychotropic test giving healthcare providers an ... medication decisions for patients suffering from depression, anxiety, ... other behavioral health conditions. i ... --> With the addition of two ...
(Date:12/1/2015)... 2015 --> ... "Nucleic Acid Labeling Market by Product (Reagents & Kits, ... In Vitro Transcription, Reverse Transcription, End Labeling), by Region ... global market is expected to reach USD 1,925.7 Million ... at a CAGR of 8.65%. Browse 77 ...
(Date:12/1/2015)... , Dec. 01, 2015 ... the "Veterinary Equipment and Disposables Market by ... report to their offering. --> ... "Veterinary Equipment and Disposables Market by product, ... report to their offering. --> Research ...
Breaking Medicine Technology: