Sun Pharmaceutical Industries Limited (NSEI:SUNPHARMA) entered into non-binding indication of interest to acquire remaining unknown majority stake in Taro Pharmaceutical Industries Ltd. (NYSE:TARO) for an offer per share of $38 on May 26, 2023. Final approval of the Proposed Transaction remains subject to (i) final approval of transaction terms by Sun Pharma?s management and Board of Directors; (ii) execution and delivery of binding contractual documentation to the satisfaction of all parties; (iii) approval of all the governing bodies, including the shareholders of Taro in accordance with Section 270(4) and 275 of the ICL; (iv) receipt of any third-party approvals, if needed; and (v) receipt of applicable regulatory approvals, including from any relevant Anti-Trust Authorities to the extent required.

Sun Pharmaceutical Industries Limited (NSEI:SUNPHARMA) completed the acquisition of remaining unknown majority stake in Taro Pharmaceutical Industries Ltd. (NYSE:TARO) for an offer per share of $38 on Quarter ended June 30, 2023.