Navigation Links
Raging Capital Sends Letter to Taro Pharmaceutical Board of Directors in Opposition to Inadequate Acquisition Offer by Sun Pharmaceutical
Date:11/3/2011

PRINCETON, N.J., Nov. 3, 2011 /PRNewswire/ -- Raging Capital Management, LLC ("Raging Capital"), one of the largest unaffiliated shareholders of Taro Pharmaceutical Industries Ltd. ("Taro") (OTC: TAROF), announced today that it delivered a letter to the Board of Directors of Taro opposing the October 18, 2011 proposal by Sun Pharmaceutical Industries Ltd. ("Sun Pharma") to acquire the remaining outstanding shares of Taro for $24.50 per share.  In the letter, Raging Capital agreed with the views previously expressed by Grand Slam Asset Management and stated that the proposed consideration is grossly inadequate and fails to provide full and fair value to Taro's minority shareholders. Raging Capital called on the Board to form a special committee composed of members who are truly independent from Sun Pharma and retain independent advisors to explore and evaluate all strategic alternatives to maximize shareholder value.

The full text of the letter follows:

November 3, 2011

Dear Members of the Board of Taro Pharmaceutical Industries Ltd.:

As one of the largest unaffiliated shareholders of Taro Pharmaceutical Industries Ltd. ("Taro" or the "Company"), we are writing to you to express our serious concerns with the October 18, 2011 proposal of Sun Pharmaceutical Industries Ltd. ("Sun Pharma") to acquire all of the issued and outstanding shares of Taro, not currently held by Sun Pharma, at a price of $24.50 per share, in cash (the "Acquisition Proposal").  We believe the proposed consideration of $24.50 is grossly inadequate and is not in the best interests of Taro and its minority shareholders.  It is incumbent upon the independent directors in accordance with their fiduciary duties to take all actions necessary to protect the best interests of shareholders and ensure that shareholders receive full and fair value in any proposed transaction.

We agree with the position expressed by another significant Taro shareholder, Gra
'/>"/>

SOURCE Raging Capital Management, LLC
Copyright©2010 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6

Related medicine technology :

1. Delcath Announces Encouraging Top-Line Results From Hepatobiliary Cohort in Phase II Trial of Chemosaturation System
2. SAR 1118 Demonstrates Encouraging Results in Phase 2 Study of Dry Eye Disease
3. comScore Announces Availability of Media Planning Tool Leveraging Behavioral Insights into Online Usage Habits of Doctors
4. Power Wheelchair From Medicare Helps Save Elderly Alabama Woman From Raging Fire That Destroyed Her Home of 40 Years
5. Stimatix GI Reports Encouraging Interim Results
6. Mississippians React to Rushed Pseudoephedrine Debate Raging in the State Legislature
7. Quigley CEO, Ted Karkus, Announces Phase One of 2010 Strategic Plan; Karkus Reports that the Primary Focus will be on Leveraging its OTC Platform; Company Aggressively Seeking Product Acquisitions and Line Extensions which Leverage its Distribution
8. Patients who Participated in Pleio GoodStart(TM) Refilled 30% Sooner and 40% More, Averaging 2 Additional Rx Refills per Patient
9. AFFiRiS AG - Encouraging Results From Phase I Studies of two Alzheimers Candidate Vaccines Trigger a EUR 10 Million Milestone Payment
10. NKTR-102 Shows Encouraging Anti-Tumor Activity in Ovarian Cancer in Phase 1 and Preclinical Data Presented at the ECCO 15 and 34th ESMO Multidisciplinary Congress
11. Encouraging First Data on New Targeted Treatment for Patients With Melanoma - the Deadliest Form of Skin Cancer
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/15/2014)... -- Colorado and Washington State are not ... Oregon , Alaska , ... the November 2014 elections. Photo - ... The benefits of legalizing cannabis are manifold. There ... increased tax revenue for state and local governments, in addition ...
(Date:12/15/2014)... , Dec. 15, 2014   DaVita HealthCare ... of the nation,s largest and most innovative health ... business units, DaVita Clinical Research  (DCR) and  HealthCare ... further expand its extensive clinical research and data ... disease (CKD) and end-stage renal disease (ESRD), as ...
(Date:12/13/2014)... Research and Markets ( http://www.researchandmarkets.com/research/2r6bmg/drug_injection ... "Drug Injection Devices to 2020" report to ... As new drugs become available ... health conditions, drug developers have increasingly pursued packaging ... and increase the efficiency and reliability with which ...
Breaking Medicine Technology:CannaInsider.com Estimates 200,000 New Jobs in the Cannabis Industry by 2015 2DaVita Clinical Research and HealthCare Partners Clinical Research to Merge and Expand Clinical Trials and Data Analytics Capabilities 2DaVita Clinical Research and HealthCare Partners Clinical Research to Merge and Expand Clinical Trials and Data Analytics Capabilities 3DaVita Clinical Research and HealthCare Partners Clinical Research to Merge and Expand Clinical Trials and Data Analytics Capabilities 4Drug Injection Devices to 2020 2Drug Injection Devices to 2020 3Drug Injection Devices to 2020 4
(Date:12/17/2014)... December 17, 2014 Dr. Myo Nwe is ... Loss Diet of the Future” and co-founder of the Ace ... book, Dr. Nwe takes a broad look at the industry ... up under scientific scrutiny. On film and in television shows, ... mostly toward the social aspects and played for basic laughs, ...
(Date:12/17/2014)... WI (PRWEB) December 17, 2014 In ... Administrators and its Argus Claim Review division have ... of the most common ways savings are achieved on ... (TPA) attributes millions of dollars in savings to Argus ... in 2013. , As explained by Tom Doney, Cypress ...
(Date:12/17/2014)... HealthDay Reporter , TUESDAY, Dec. ... diseases, one worrisome phenomenon is when an illness that originated ... known as zoonosis -- is not uncommon and keeps researchers ... animal-borne disease might make inroads into the human population. ... and the culprits in this case were guinea pigs. More ...
(Date:12/17/2014)... HealthDay Reporter , TUESDAY, Dec. 16, 2014 (HealthDay ... health, but a growing body of evidence shows the ancient ... In fact, the benefits were similar to those of ... Chu, a doctoral candidate at Harvard University,s Health Policy Program ... that people randomly assigned to take yoga classes saw improvements ...
(Date:12/15/2014)... December 15, 2014 Main Street Dental ... is weighing in on a new study providing evidence ... the oral hygiene of children. , Sufficient enough evidence ... such as pop or juice drinks, with the onset ... however, is whether drinks listed as 100% fruit juice, ...
Breaking Medicine News(10 mins):Health News:Obesity Should Not Be a Hollywood Punchline, Weight Loss Doc Says 2Health News:Out-of-Network & Medical Necessity Reviews among Top Ways TPA Identifies Significant Medical Claim Savings 2Health News:Guinea Pigs Can Be Source of Serious Strep Infection 2Health News:Guinea Pigs Can Be Source of Serious Strep Infection 3Health News:Yoga May Cut Heart Disease Risk Factors 2Health News:Yoga May Cut Heart Disease Risk Factors 3Health News:Main Street Dental Team, Unionville’s Most Innovative Dental Clinic, Comments on New Study Relating Pure Fruit Juice to Poor Oral Hygiene 2
... highest levels at almost twice the risk, regardless of ... -- A new study has found a strong association ... leads to a four-to-five times increased risk of heart ... levels of insulin resistance (often a precursor to diabetes) ...
... researchers at the University of Pennsylvania School of Medicine ... motor areas of the brains of patients with amyotropic ... same group has shown that TDP-43 accumulates throughout the ... appreciated and treatments need to take into account more ...
... COLUMBIA, Mo. Many women experience menopausal changes in ... the changes they don,t notice can be more dangerous. ... Missouri have discovered significant changes in the brain,s vascular ... predict that currently used estrogen-based hormone therapies may complicate ...
... Mike,Leavitt today declared a public health emergency in ... gives HHS, Centers for Medicare &,Medicaid Services, (CMS) ... in meeting emergency health needs., "The flooding ... individual and,to their communities," Secretary Leavitt said. "This ...
... Staff, and 7 other HFI usability, experts speak ... research topics including, ,Who are We ... YORK, June 16 Human Factors International (HFI),the ... "platinum",sponsorship of the 2008 Usability Professionals, Association International,Conference. ...
... of therapeutic agents that interferes with the ability of ... The results of the new study will be presented ... Meeting in San Francisco. , The cell-based study ... compounds are likely to be effective against breast cancers ...
Cached Medicine News:Health News:Insulin Resistance Tied to Peripheral Artery Disease 2Health News:Lou Gehrig's protein found throughout brain, suggesting effects beyond motor neurons 2Health News:Complex changes in the brain's vascular system occur after menopause 2Health News:HHS Takes Action to Help Medicare Beneficiaries and Providers in Iowa and Indiana 2Health News:HHS Takes Action to Help Medicare Beneficiaries and Providers in Iowa and Indiana 3Health News:Human Factors International Sponsors Usability Professionals' Association (UPA) 2008 International Conference 2Health News:Human Factors International Sponsors Usability Professionals' Association (UPA) 2008 International Conference 3Health News:Future hope for patients with breast cancers resistant to tamoxifen 2
Medtronic Ophthalmics offers a comprehensive selection of corneal trephine,blades and handles. Handcrafted, sharp, uniform blade edges promote a,symetrical and vertical cut of all corneal layers....
Medtronic Ophthalmics offers a comprehensive selection of corneal trephine,blades and handles. Handcrafted, sharp, uniform blade edges promote a,symetrical and vertical cut of all corneal layers....
Medtronic Ophthalmics offers a comprehensive selection of corneal trephine,blades and handles. Handcrafted, sharp, uniform blade edges promote a,symetrical and vertical cut of all corneal layers....
Each handle is designed to fit a specific trephine size....
Medicine Products: