Sun to take Taro private
MUMBAI, India — Sun Pharmaceutical Industries will take Taro Pharmaceutical Industries private, under a merger agreement between the two companies announced Sunday.
Sun, based in India, has sought to buy Israel-based Taro since 2007 and owns about 77.5% of the latter's shares.
After the merger is complete, Taro will become a privately held company and wholly owned subsidiary of Sun. Taro shareholders will receive $39.50 per share.