Sun Pharma and Taro announce merger agreement - News Summed Up

Sun Pharma and Taro announce merger agreement


Sun Pharma’s efforts to mop up the remaining shares in Israel’s Taro Pharma appears to have entered the final leg, with the two companies announcing a merger agreement. “Pursuant to the Merger Agreement, Taro will merge with a company that is controlled by Sun Pharma upon completion of the merger, Taro will become a privately-held company and an indirect wholly-owned subsidiary of Sun Pharma,” Taro said in a filing with the US SEC. “The Merger Agreement provides each of Taro and Sun Pharma with certain termination rights under certain circumstances, in each case without requiring payment of a termination fee,” it added. Herzog, Fox & Neeman is acting as the Israeli legal counsel to Sun Pharma, while Davis Polk & Wardwell LLP is acting as its US legal counsel. Meitar is acting as Israeli legal counsel to Taro and Shearman & Sterling LLP is acting as US legal counsel to Taro.


Source: The Hindu January 18, 2024 11:25 UTC



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