Taro board rejects Sun acquisition offer
HAWTHORNE, N.Y. — Israeli drug maker Taro Pharmaceutical Industries has rejected India-based Sun Pharmaceutical Industries' takeover bid, Taro said Thursday.
Taro said its board of directors unanimously voted to reject a $24.50-per-share offer Sun made on Oct. 18, 2011. Taro began listing its shares on the New York Stock Exchange in March.
Sun has sought to buy Taro since 2007.