Sun Pharmaceutical Industries Ltd.

Sun Pharmaceutical, which had initiated acquisition of Taro Pharmaceutical Industries four-and-a-half years ago, made a proposal to be the 100 per cent owner of the West Asian drug company. After about three years of legal battle, Sun had in last September completed the acquisition of controlling stake in the Israeli firm. Today, Sun Pharma, the country’s largest drugmaker by market cap, owns 66 per cent in Taro.Sun has offered to buy all of the outstanding shares it does not own in Taro — for $24.40 a share. Tts offer represents 25.96 per cent premium over the most recent closing of the Israeli firm's common stock. The offer is subject to the approval of Taro Board and other regulatory authorities.