Sun Pharmaceutical Industries Ltd.

Sun Pharmaceutical Industries, India's top drugmaker offered to buy all of the outstanding shares it does not already own in its Israeli unit Taro Pharmaceutical Industries. The drug maker proposed to buy per share at a consideration of $24.50 in cash representing a 25.96% premium over the most recent price of Taro common stock.

Further, this offer is subject to the approval of Taro board and such other authorities as may be required and subject to completion of necessary formalities as may be required.

Sun Pharmaceutical Industries manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in India, US and several other markets across the world.