Pharmaceutical Industry Sun Pharma to Acquire Taro
Sun Pharma and Taro Pharmaceutical Industries have entered into a merger agreement together with certain affiliates of Sun Pharma. Upon completion of the merger, Taro will become a privately held company, will be wholly owned by affiliates of Sun Pharma.
Mumbai/India – The merger agreement was approved by Taro’s Board of Directors based upon the recommendations and approvals of the Special Committee of Taro’s Board of Directors (the “Special Committee”) and the Audit Committee of Taro’s Board of Directors. The Special Committee was advised by its independent financial advisor Citigroup Global Markets Inc. and its independent legal counsel Goldfarb Seligman & Co. as its Israeli legal counsel and Willkie Farr & Gallagher LLP as its United States legal counsel.