Companies / China
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Taro Rejects Sun Merger
May 2008 | Company Finance AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Surprising many industry observers, BMI included, on May 28 Israel's Taro Pharmaceutical Industries terminated its proposed merger with India's Sun Pharmaceutical Industries, bringing to an end a year-long saga. Taro deemed Sun's offer to raise the merger price to US$10.25 per share (up from an original offer of US$7.75 per share) still inadequate.