Sun Pharma and Taro Pharmaceutical Enter into a Merger Agreement
Shots:
- Sun Pharmaceutical and Taro Pharmaceutical have signed a definitive merger agreement with Sun Pharma acquiring all outstanding ordinary shares of Taro (excl. those already held by Sun Pharma or its affiliates) for $43.00 per share in cash, without interest
- Under the merger, the purchase price of $43.00 per share represents a 48% premium over the closing price on May 25, 2023, and a 58% to the volume-weighted average price of the shares during the 60 days before and incl. May 25, 2023. It also reflects a 13% increase from the initially proposed purchase price of $38.00 per share on May 26, 2023
- Taro will become a privately held company on the completion of the merger that is anticipated in H1’24
Ref: Sun Pharma | Image: Sun Pharma
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Shivani was a content writer at PharmaShots. She has a keen interest in recent innovations in the life sciences industry. She was covering news related to Product approvals, clinical trial results, and updates. We can be contacted at connect@pharmashots.com.
