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:8/29/2014)... -- Thoratec Corporation (NASDAQ: THOR ), a ... save, support and restore failing hearts, said today it ... Healthcare Conference on Wednesday, September 10. ... will provide an update on the company, beginning at ... Time).   A webcast of the presentation ...
(Date:8/29/2014)... Research and Markets has announced the addition ... report to their offering. Benefiting ... for medical expenses, the Chinese orthopedic instrument market demand ... CAGR of 19.2% during 2009-2013. Trauma products, spine products ... instruments in China , of which ...
(Date:8/29/2014)... DUBLIN , Aug. 29, 2014 Research ... CNS Disorders Drug Pipeline Insight 2014" report to their ... market in US is one of the largest segments of ... an alarming rate, while the available therapies were unable to ... growth in the market for CNS disorder, especially over the ...
Breaking Medicine Technology:China Orthopedic Instrument Industry Report, 2014-2017 2US CNS Disorders Drug Pipeline Insight 2014 2
... MedShape Solutions, Inc, a developer of shape memory orthopedic ... Blair and Tom Hills to the Board of Directors effective ... of experience in the healthcare field, including serving as the ... as the Non-executive Chairman of DJO, Inc., (formerly NYSE-listed sports ...
... Inc. (Pink Sheets: SNDY) is pleased to announce that ... demonstrated at the 95th Annual American College of Surgeons ... During the Breast Ductoscopy for the General Surgeon course, ... hands-on skill stations that will provide the core knowledge ...
Cached Medicine Technology:MedShape Solutions, Inc. Appoints Jack Blair and Tom Hills to Board of Directors; Announces Additions to Management Team 2Solos Endoscopy, Inc.'s MammoView(TM) Product Line to be Demonstrated at the 95th Annual American College of Surgeons Clinical Congress 2
(Date:9/1/2014)... September 01, 2014 Building on the ... American Sleep and Breathing Academy (ASBA) has ... Conference for Healthcare Professionals. The event will be taking ... April 10th and 11th. This years’ event promises to ... the ASBA. , In recent years, Pro ...
(Date:9/1/2014)... mental health and substance use problems in adolescents ... the consequences of cyberbullying and also be beneficial ... Elgar, Ph.D., of McGill University, Montreal, Canada, and ... has experienced recent online bullying and cyberbullying, like ... health problems in teens as well as the ...
(Date:9/1/2014)... Sept. 1, 2014 (HealthDay News) -- You may be able ... unhealthy ones, new research suggests. The study included eight ... designed weight-loss program meant to change how people react to ... of five overweight and obese people who weren,t in the ... start of the study and again six months later. The ...
(Date:9/1/2014)... Currently, scientists continue to face fundamental ... disease (AD), which reflects their poor understanding of ... of the disease, especially in its early stages, ... In 2014, after decades that have witnessed ... medicine world, there are still no disease-modifying therapies ...
(Date:9/1/2014)... (PRWEB) September 01, 2014 "Women struggle ... These hormonal daily changes begin as early as 15, ... their lives negotiating the ups and downs of hormone ... thin or even healthy sizes seems to rage against ... As a woman in her 40's begin to face ...
Breaking Medicine News(10 mins):Health News:Pro Player Health Alliance Confirms Big Name Speakers at 2015 American Sleep and Breathing Academy Conference 2Health News:Pro Player Health Alliance Confirms Big Name Speakers at 2015 American Sleep and Breathing Academy Conference 3Health News:Pro Player Health Alliance Confirms Big Name Speakers at 2015 American Sleep and Breathing Academy Conference 4Health News:Family dinners good for teens' mental health, could protect from cyberbullying 2Health News:Family dinners good for teens' mental health, could protect from cyberbullying 3Health News:Train Your Brain to Choose Fruit Salad Over French Fries 2Health News:Early Stage Minimally Invasive Candidate AD Biomarkers Reviewed in New Study by Biopharm Reports Available at MarketPublishers.com 2Health News:Early Stage Minimally Invasive Candidate AD Biomarkers Reviewed in New Study by Biopharm Reports Available at MarketPublishers.com 3Health News:Female Hormonal Imbalances - Can’t Seem to Shed Those Extra Pounds? Discussion with Medical Expert Dr. Clairborne on Dr. Carol Francis Talk Radio Today 2Health News:Female Hormonal Imbalances - Can’t Seem to Shed Those Extra Pounds? Discussion with Medical Expert Dr. Clairborne on Dr. Carol Francis Talk Radio Today 3
... can cause liver or stomach illness in certain ... News) -- Many over-the-counter painkillers and fever reducers ... potential danger of liver damage and stomach bleeding, ... have to include these warnings on all their ...
... DURECT Corporation,s (Nasdaq: DRRX ) first quarter 2009 ... the conference call that will be broadcast live over the ... Time (1:30 pm Pacific Time).A live audio webcast of the ... http://www.durect.com and clicking "Investor Relations." ...
... Encryption business continues to drive performance for CompanyDALLAS, April ... ), the leader in hosted services for email encryption ... first quarter ended March 31, 2009. ZixCorp recorded ... net loss of $1.5 million for the quarter, or ...
... Specter (?-Penn) switched political parties from Republican to Democrat. Tom ... arm of Family Research Council, had this to say:"Senator Specter,s ... old saying, ,if it looks like a donkey, quacks like ... is probably a donkey., This holds true for Senator ...
... is a risk for a catastrophic pandemic -FLEMINGTON, N.J., ... physicians revealed that a majority of physicians (63%) reported ... Swine Flu will result in a worldwide catastrophic pandemic.(Logo: ... was conducted by HCD Research and the Muhlenberg ...
... Aid IllinoisCHICAGO, April 28 The Third Annual ... continuing impact that AmeriCorps volunteers are having across ... volunteers serving in Illinois this year, assisting at-risk ... for low-income families, and assisting nonprofits in volunteer ...
Cached Medicine News:Health News:FDA Adds New Label Warnings to Over-the-Counter Painkillers 2Health News:Zix Corporation Reports Highest Revenue Quarter as Company Announces First Quarter 2009 Financial Results 2Health News:Zix Corporation Reports Highest Revenue Quarter as Company Announces First Quarter 2009 Financial Results 3Health News:Zix Corporation Reports Highest Revenue Quarter as Company Announces First Quarter 2009 Financial Results 4Health News:Zix Corporation Reports Highest Revenue Quarter as Company Announces First Quarter 2009 Financial Results 5Health News:Zix Corporation Reports Highest Revenue Quarter as Company Announces First Quarter 2009 Financial Results 6Health News:Zix Corporation Reports Highest Revenue Quarter as Company Announces First Quarter 2009 Financial Results 7Health News:Zix Corporation Reports Highest Revenue Quarter as Company Announces First Quarter 2009 Financial Results 8Health News:Zix Corporation Reports Highest Revenue Quarter as Company Announces First Quarter 2009 Financial Results 9Health News:Zix Corporation Reports Highest Revenue Quarter as Company Announces First Quarter 2009 Financial Results 10Health News:Zix Corporation Reports Highest Revenue Quarter as Company Announces First Quarter 2009 Financial Results 11Health News:Zix Corporation Reports Highest Revenue Quarter as Company Announces First Quarter 2009 Financial Results 12Health News:Zix Corporation Reports Highest Revenue Quarter as Company Announces First Quarter 2009 Financial Results 13Health News:Zix Corporation Reports Highest Revenue Quarter as Company Announces First Quarter 2009 Financial Results 14Health News:Zix Corporation Reports Highest Revenue Quarter as Company Announces First Quarter 2009 Financial Results 15Health News:Zix Corporation Reports Highest Revenue Quarter as Company Announces First Quarter 2009 Financial Results 16Health News:Zix Corporation Reports Highest Revenue Quarter as Company Announces First Quarter 2009 Financial Results 17Health News:Swine Flu Outbreaks Cause Concern among U.S. Physicians 2Health News:Swine Flu Outbreaks Cause Concern among U.S. Physicians 3Health News:Third Annual AmeriCorps Week 2Health News:Third Annual AmeriCorps Week 3
Plasma Control Level 1 - 1 ml...
The Mini Vidas is a compact version of the Vidas system with a built-in computer, keyboard and printer. Two independent sections each accept six tests and can process up to 12 samples simultaneously....
... reference laboratory and a worldwide leader in ... an extensive test menu of highly complex ... anatomic pathology. Owned by the University of ... half of the nation's university teaching hospitals ...
... ARUP Laboratories is a national reference ... laboratory research and development. ARUP offers an ... unique medical tests in clinical and anatomic ... ARUP Laboratories' clients include more than half ...
Medicine Products: