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Caraco Pharmaceutical Laboratories, Ltd. Reports Results for the Third Quarter and First Nine Months of Fiscal Year 2011
Date:1/30/2011

n Global") for a going private transaction by which Sun Pharma and Sun Global, and/or one or more of their affiliates, would acquire all of the outstanding shares of the Company's common stock not held by Sun Pharma and Sun Global for $4.75 in cash per share.   Subsequently, the Company's Board of Directors authorized the Independent Committee of the Board to: (1) consider the Proposal including, but not limited to, reviewing (a) whether going private is appropriate for Caraco at this time is advisable or is inadvisable and should be rejected, (b) possible alternatives to the Proposal or opportunities which may be more advantageous to Caraco, and (c) the merits of the Proposal; (2) if deemed advisable, enter into discussions and negotiations with respect to the terms of the Proposal, including the proposed per share purchase price, with Sun Pharma and Sun Global and their advisors; and (3) make recommendations to the Board of Directors and as applicable, to the stockholders as to the Independent Committee's findings. The Independent Committee has also retained William Blair & Company as an independent financial advisor, and Carrington Coleman as independent legal counsel, to assist it in evaluating the Proposal.

As previously disclosed, the Company's two distribution agreements with Sun Pharmaceutical Industries Ltd. have been extended until January 28, 2012, but will each terminate following these extensions. During the first six months of calendar 2011, the Company and Sun Pharma will discuss a transition plan to transition the marketing of the products covered by the respective agreements to Sun Pharma and/or its wholly-owned affiliates. Thereafter, if the parties have reached an understanding with respect to the transition plan, the parties will implement the transition plan so that upon termination of the agreements Sun Pharma and its affiliates will commence marketing of the products. If the parties have not agreed on a transition plan prior to
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SOURCE Caraco Pharmaceutical Laboratories, Ltd.
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Related medicine technology :

1. Caraco Pharmaceutical Laboratories, Ltd. Provides Update on Remediation Activities
2. Caraco Pharmaceutical Laboratories, Ltd. Announces Extension and Future Termination of Distribution Agreements with Sun Pharma
3. Independent Committee of Caraco Board Retains Independent Advisors for Consideration of Sun Pharma Proposal to Purchase Outstanding Shares and Caraco Acknowledges Filing of Purported Class Action Lawsuits
4. Independent Committee of Caraco Board to Consider Sun Pharma Proposal to Purchase Outstanding Shares
5. Caraco Receives Sun Pharma Proposal to Purchase All Outstanding Shares
6. Caraco Pharmaceutical Laboratories, Ltd. Reports Results for the Second Quarter and First Six Months of Fiscal Year 2011
7. Caraco Pharmaceutical Laboratories, Ltd. Announces Change to Executive Team as G. P. Singh to Assume Position of CEO Effective November 1, 2010 and Update on Remediation Status
8. Caraco Pharmaceutical Laboratories, Ltd. Announces Appointment of Eddie Munson to Board of Directors
9. Caraco Pharmaceutical Laboratories, Ltd. Announces G.P. Singh Sachdeva Is Appointed as Chief Operating Officer
10. Caraco Pharmaceutical Laboratories, Ltd. Markets Generic Flomax®
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