A US district court has dismissed a petition by Israel's Taro Pharmaceutical Industries to block leading Indian drug maker Sun Pharma from launching an open offer to acquire majority stake in the former.
Sun Pharma has increased its stake in Israel's Taro by buying 9.5% more, raising its total holding to 34.4 per cent.
In a filing to the Bombay Stock Exchange, Sun Pharma said the US Federal Trade Commission (FTC) has granted early termination of the anti-trust waiting period for the previously announced tender offer by its subsidiary Alkaloida Chemical Company Exclusive Group Ltd. Last month the Mumbai-based firm had launched an open offer at a price of $7.75 per share to acquire all outstanding shares of Taro, including all of the founders' shares.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances