Sun Pharmaceutical Industries Ltd.

Sun Pharmaceutical Industries has entered into a definitive merger agreement with Taro Pharmaceutical Industries (Taro) to acquire all of the outstanding ordinary shares of Taro other than the shares already held by Sun Pharma. Sun Pharmaceutical will acquire 8,086,818 shares constituting 21.52% of the total outstanding shares of Taro for a cash consideration of $43 per share amounting to Rs 2,891.76 crore. 

Upon completion of the merger, currently expected to close in the first half of 2024, Taro will become a privately held company and its shares will no longer be listed on the NYSE.

Sun Pharmaceutical Industries is among the largest specialty generic pharmaceutical company and India's top pharmaceutical company.