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Israeli Court Snags Sun Pharma Of India Plan To Buy Taro

This article was originally published in PharmAsia News

Executive Summary

The Israeli Supreme Court has called a temporary halt to the effort by India's Sun Pharma to acquire Israel's Taro Pharmaceuticals. The move is the latest of legal steps that have snagged the hostile takeover attempt. The high court upheld a lower court ruling that blocked Sun's expiration date for shareholders to meet the Indian company's tender offer. The ruling effectively prevents Sun from closing the deal before a court appeal is resolved. The Supreme Court set a Dec. 8 date for opening arguments. (Click here for more



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