Sun Pharmaceutical Industries on Thursday said it will acquire the remaining 21.52 per cent stake in Israel-based Taro Pharmaceutical Industries for Rs 2,891.76 crore, enabling the merger of the two entities.
The acquisition of 8,086,818 shares (21.52 per cent) will be at the cost of Rs 2,891.76 crore, Sun Pharma said.
The Mumbai-based drug major has agreed to acquire all of the outstanding ordinary shares of Taro for USD 43 per share in cash without interest, as per the definitive merger agreement.
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