Generics company Sun Pharma will convert its majority ownership of Israel’s Taro Pharmaceutical Industries into a full takeover of the company, buying up the shares it doesn’t own.
Sun Pharma, which says it’s the largest pharma company in India, will pay $43 each in cash for the shares of Taro that it doesn’t already own. The merger is expected to complete in the first half of this year, and Taro will become a privately-owned company that’s no longer listed on the NYSE.
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