By ENS Economic Bureau
Sun Pharma (SUNPHARMA.NS : 1402.9 +18.15) has proposed to offer a premium price over the current market rates for the shares of Israel-based Taro Pharmaceutical and resolve the issue with Taro, as recommended by the Israeli Supreme Court. We are open to discussing both the proposals - to offer an excellent solution to this dispute and offer a significant premium to the public shareholders over the current market prices, Sun Pharmaceutical Industries Ltd Chairman Dilip Shanghvi said in a letter to the Taro Board of Directors. In a filing to the BSE (^BSESN : 16158.28 +94.38), Sun Pharma said it has sent two proposals to Taro and its first proposal includes option to increase consideration to $9.50 per share, while asking Taro to withdraw its purported termination of the merger agreement.
Quotes delayed, except where indicated otherwise.
Delay times are 15 mins for BSE and NSE(when not logged-in) See also delay times for other exchanges.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Prior to execution of any security trade, you are advised to consult your authorized financial advisor to verify the accuracy of all information. Neither Yahoo! nor any independent provider is liable for any informational errors, incompleteness or delays or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found herein.
) has proposed to offer a premium price over the current market rates for the shares of Israel-based Taro Pharmaceutical and resolve the issue with Taro, as recommended by the Israeli Supreme Court. We are open to discussing both the proposals - to offer an excellent solution to this dispute and offer a significant premium to the public shareholders over the current market prices, Sun Pharmaceutical Industries Ltd Chairman Dilip Shanghvi said in a letter to the Taro Board of Directors. In a filing to the BSE (
