For around $348 million, Sun Pharma will purchase the remaining equity in the Israeli company Taro

For around $348 million, Sun Pharma will purchase the remaining equity in the Israeli company Taro

Based on estimates by Reuters, Sun Pharma is making an offer of around $347.8 million, which represents a 4.2% premium per share over Taro's closing price on Wednesday.

India's Sun Pharmaceutical Industries Ltd. Opens new tab indicated on Wednesday that it will acquire Taro Pharmaceutical Industries, opens new tab, by purchasing all of its shares for $43 per share in cash, which it does not already own. assumes total command.

Based on estimates by Reuters, Sun Pharma is making an offer of around $347.8 million, which represents a 4.2% premium per share over Taro's closing price on Wednesday.

The Indian pharmaceutical, which owns around 78.5% of Taro now, made an offer to purchase the remaining portion of the company for $38 per share when it opened a new tab in May.

The agreement marks the end of almost 17 years of back and forth for complete control of the generic pharmaceutical with a U.S. listing that mostly does business in the United States and Canada.

Taro will become a privately owned business and be delisted from the New York Stock Exchange upon completion of the transaction, which is anticipated to conclude in the first part of the year, according to the companies.

Charges against a former Tarot executive who was allegedly involved in a scheme to rig generic medication pricing between 2013 and 2015 were dropped by the US authorities in November.

Amid a broad Justice Department crackdown on suspected price-fixing abuses in the generic medication market, Taro agreed to pay more than $200 million to settle criminal price-fixing charges in July 2020.