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

entering into any agreement so that the value of the Company in any sale can be maximized.

Another important step in the process is retaining expert, independent advisers to assist the special committee in its deliberations.  The special committee should have no problem retaining top tier, independent advisers experienced in transactions of this size and complexity. While we do not presume to recommend any particular investment bank, we do expect that the special committee will ensure that the firms selected have no prior relationship with Sun Pharma.

Sun Pharma's prior history with Taro dating back to 2007 and the circumstances under which Sun Pharma gained a controlling stake in the Company give us even further pause for concern that the interests of minority shareholders are not being properly looked after.  Sun Pharma and Taro entered into a merger agreement in May 2007 pursuant to which Sun Pharma would acquire Taro for $7.75 per share.  The proposed transaction was met with opposition from shareholders and after it became clear that the merger may not be approved by shareholders and after the Board concluded that a revised $10.25 offer from Sun Pharma was inadequate, Taro announced on May 28, 2008 that it had terminated the Merger Agreement in accordance with its terms.  

Litigation ensued for over two years and all the way up to the Supreme Court of the State of Israel as Taro attempted to enjoin Sun Pharma from acquiring a controlling stake of Taro through a tender offer without adhering to the "special tender offer" rules under Israeli law that provide protections for minority shareholders.  Around the same time, in June 2008, Sun Pharma attempted to exercise an option to acquire a large block of shares from certain members of the families of the Company's founders and ultimately entered into a letter agreement and settlement agreement in September 2010 with these controlling family shareholders pursuant t
'/>"/>

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:6/30/2015)... , June 30, 2015  Today, the National ... of the 2015 National Mobility Awareness Month Local Heroes ... Local Hero online entries that received 1.3 million votes. ... Chrysler , Toyota Mobility , and Valley ... BraunAbility and Vantage Mobility International (VMI) ...
(Date:6/30/2015)... , June 30, 2015 Today, UBM ... signed an agreement with Chengdu Tianyi Exhibition Co., Ltd. ... , which is to be held concurrently with CWMEE ... to UBM,s healthcare exhibition family, following MEDTEC China and ... exhibition market in west China. It,s also another concrete ...
(Date:6/30/2015)...  July 4 th is this weekend, a time ... and people behind it. To help honor our current nation,s ... USA Medical Card, a leading provider of free ... empower independence for our disabled military veterans, police, firemen, and ... their prescriptions. "Due to USA ...
Breaking Medicine Technology:NMEDA Announces National Contest Winners 2NMEDA Announces National Contest Winners 3UBM Joins Chengdu Tianyi to Hold CWMEE 2016 2UBM Joins Chengdu Tianyi to Hold CWMEE 2016 3Hope For Heroes and USA Medical Card Make a Difference for Our Nation's Heroes 2
... SAN DIEGO, and PARSIPPANY, N.J., Feb. 15, 2011 ... ), an emerging specialty pharmaceutical company, today announced ... its Phase 3 trial of EXPAREL™ (bupivacaine extended-release ... safety in wound healing and significantly improved efficacy ...
... 15, 2011 MIM Software Inc., a leading global ... MIM™ is available on the U.S. App Store. This ... the app had received 510(k) clearance for remote diagnostic ... the iPhone®, iPod touch®, and iPad®. (Photo: ...
Cached Medicine Technology:Pacira Pharmaceuticals Highlights Additional Safety Data on EXPAREL™ for Postsurgical Pain Relief at 2011 American Academy of Orthopaedic Surgeons Annual Meeting 2Pacira Pharmaceuticals Highlights Additional Safety Data on EXPAREL™ for Postsurgical Pain Relief at 2011 American Academy of Orthopaedic Surgeons Annual Meeting 3Pacira Pharmaceuticals Highlights Additional Safety Data on EXPAREL™ for Postsurgical Pain Relief at 2011 American Academy of Orthopaedic Surgeons Annual Meeting 4Pacira Pharmaceuticals Highlights Additional Safety Data on EXPAREL™ for Postsurgical Pain Relief at 2011 American Academy of Orthopaedic Surgeons Annual Meeting 5Mobile MIM, First FDA-Cleared Diagnostic Medical Imaging App, Now Available on the U.S. App Store 2Mobile MIM, First FDA-Cleared Diagnostic Medical Imaging App, Now Available on the U.S. App Store 3
(Date:6/30/2015)... New York (PRWEB) , ... June 30, 2015 ... ... ( http://www.xareltolawsuit2015.com/ ) currently pending in a federal multidistrict litigation now underway in ... Court convenes its next monthly Status Conference. According to the Court’s calendar, that ...
(Date:6/30/2015)... NJ (PRWEB) , ... June 30, 2015 , ... Dr. ... primary care sports medicine physician. He specializes in the diagnosis and treatment of non-surgical ... and for the people who participate in recreational athletics and use exercise to stay ...
(Date:6/30/2015)... ... June 30, 2015 , ... MJH Associates today ... Healthcare Research & Analytics , a consultative healthcare market research practice that is ... businesses. HRA offers quantitative and qualitative, custom and multi-client primary market research services ...
(Date:6/30/2015)... ... June 30, 2015 , ... ... partnering to improve access to cancer prevention, screening and care for the people ... announced an affiliation that will see Roswell Park faculty providing clinical consultations to ...
(Date:6/30/2015)... (PRWEB) , ... June 30, 2015 , ... New Energy ... York July 7th and 11th 2015. Timber frame post and beam raisings offer a ... , “Raising a timber frame is an important and exciting event – ...
Breaking Medicine News(10 mins):Health News:Progress of Federal Xarelto Lawsuits Pending in Multidistrict Litigation to Be Discussed During July 9th Status Conference 2Health News:Progress of Federal Xarelto Lawsuits Pending in Multidistrict Litigation to Be Discussed During July 9th Status Conference 3Health News:NJ Top Docs Presents Dr. Sammy Masri; Dr. Masri is Now Offering a Wide Range of Services to his Valued Patients 2Health News:NJ Top Docs Presents Dr. Sammy Masri; Dr. Masri is Now Offering a Wide Range of Services to his Valued Patients 3Health News:NJ Top Docs Presents Dr. Sammy Masri; Dr. Masri is Now Offering a Wide Range of Services to his Valued Patients 4Health News:NJ Top Docs Presents Dr. Sammy Masri; Dr. Masri is Now Offering a Wide Range of Services to his Valued Patients 5Health News:HRA Healthcare Research & Analytics Welcomes 'Creative Problem Solver' as New Executive Vice President 2Health News:HRA Healthcare Research & Analytics Welcomes 'Creative Problem Solver' as New Executive Vice President 3Health News:Intercontinental Oncology Partnership Brings Access to Specialized Cancer Care to Nigeria 2Health News:Intercontinental Oncology Partnership Brings Access to Specialized Cancer Care to Nigeria 3Health News:Intercontinental Oncology Partnership Brings Access to Specialized Cancer Care to Nigeria 4Health News:Intercontinental Oncology Partnership Brings Access to Specialized Cancer Care to Nigeria 5Health News:Join New Energy Works Timberframers in Raising the Frames in Western New York 2Health News:Join New Energy Works Timberframers in Raising the Frames in Western New York 3Health News:Join New Energy Works Timberframers in Raising the Frames in Western New York 4
... French . , MONTREAL, December 14, 2010 The first ... to recognize the sound of their parents, voice and the parents ... and newborns admitted to the intensive care unit can be very ... Jan Lariviere, a nurse in the neonatal clinic and the Neonatal ...
... , TUESDAY, Dec. 14 (HealthDay News) -- Most ... United States is funded by states, not the federal government, ... variation in the extent to which states prioritized human embryonic ... in states could likely have been funded under federal government ...
... a woman in New Hampshire have received the first kidney ... Organ Procurement and Transplantation Network (OPTN) that uses a Carnegie ... donors. Both recipients Ken Crowder of St. Louis and ... were willing to donate a kidney but who were medically ...
... (HealthDay News) -- A federal judge ruled Monday that the ... government has no authority to require citizens to buy health ... new legislation, signed into law in March by President Barack ... supporters and opponents of the legislation anticipate the validity of ...
... that alter the activity of genes direct changes to ... control when genes are switched on and off, called epigenetic ... an opening for the cancerous growth of cells. Researchers ... at work on a genome-wide scale in cases of ovarian ...
... HealthDay Reporter , MONDAY, Dec. 13 (HealthDay News) ... may be child,s play, researchers report. A new ... cereals if they,re given a selection of choices at breakfast, ... fruit instead. The 5-to-12-year-olds in the study still ate ...
Cached Medicine News:Health News:Once upon a time in the Intensive Care Unit ... 2Health News:States Now Fund Most Embryonic Stem Cell Research in U.S. 2Health News:2 people receive kidney transplants in pilot program using CMU software 2Health News:2 people receive kidney transplants in pilot program using CMU software 3Health News:Federal Judge Strikes Down Health Reform Law 2Health News:Federal Judge Strikes Down Health Reform Law 3Health News:Ovarian cancer advances when genes are silenced 2Health News:Kids Not So Stuck on Sugary Breakfast Cereals, Study Finds 2Health News:Kids Not So Stuck on Sugary Breakfast Cereals, Study Finds 3
DAVINCI® performs all required steps primary tube sampling, reagent dispensing, microplate incubation, washing and optical reading....
... contains 266 amino acids and is variably N-glycosylated. ... estimates of between 43 and 56 kDa. Insulin-like ... with high affinity but do not bind insulin. ... characterized at this time, IGFBP-3 has been shown ...
... detection and semi-quantitation of ... antigen in serum as ... diagnosis of autoimmune disease. ... performed either manually or ...
Qualitative EIA for SS-A, SS-B, Sm, Sm/RNP plus Scl-70 and Jo-1...
Medicine Products: