Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Raging Capital Asks Taro Pharma To Reject Sun Pharma's Acquisition Proposal

Raging Capital Management, LLC , one of the largest unaffiliated shareholders of Taro Pharmaceutical Industries Ltd. (TAROF.PK), announced that it sent a letter to the Board of Directors of Taro demanding that it immediately reject the October 18, 2011 proposal of Sun Pharmaceutical Industries Ltd. to acquire all of the remaining outstanding shares of Taro at a price of $24.50 per share.

Raging Capital stated that it will hold each Taro director personally accountable and liable to the extent the Board accepts any acquisition proposal that undervalues the company.

Click here to receive FREE breaking news email alerts for TARO PHARMACEUTICAL INDUSTRIES LTD and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Stocks came under pressure in early trading on Friday and remained firmly in the red throughout the remainder of the trading session. With the losses on the day, the S&P 500 pulled back well off yesterday's record closing high. President Barack Obama is meeting with presidents from Central American nations on Friday as the U.S. struggles to deal with a surge of unaccompanied children across the southern border. Despite calls from some leading conservatives, the results of a new CNN/ORC International poll released Friday showed that a vast majority of Americans do not believe that President Barack Obama should be impeached and removed from office.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.