Sun Pharmaceutical Industries said that its subsidiary Alkaloida Chemical Company extended the expiration date of the tender offer to acquire all outstanding ordinary shares of Taro Pharmaceutical Industries till 5:00 p.m., New York City time, December 19, 2008 unless further extended or earlier terminated.
The company said that the tender offer was extended to comply with a continuing order issued by the supreme court of Israel temporarily prohibiting the closing of the offer until the supreme court issues a decision on the appeal of the litigation commenced against Alkaloida and its affiliates by Taro and certain of its Directors.
For comments and feedback: editorial@rttnews.com