Taro Pharmaceutical Entered Into Definitive Merger Agreement With Sun Pharma; Sun Pharma To Acquire All Taro's Outstanding Ordinary Shares Of Taro For $43/Share
Portfolio Pulse from Benzinga Newsdesk
Taro Pharmaceutical has entered into a definitive merger agreement with Sun Pharma, where Sun Pharma will acquire all outstanding ordinary shares of Taro for $43 per share. This acquisition price represents a 48% premium over the unaffected share price on May 25, 2023.
January 17, 2024 | 9:32 pm
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Taro Pharmaceutical's shares are to be acquired by Sun Pharma for $43 each, a 48% premium to the share price on May 25, 2023, indicating a substantial short-term upside for shareholders.
The definitive merger agreement between Taro Pharmaceutical and Sun Pharma at a significant premium is a strong positive catalyst for TARO's stock price in the short term. Shareholders are likely to experience a substantial gain based on the agreed acquisition price, which is well above the unaffected share price. The confidence level is slightly less than 100 due to the general uncertainty surrounding the closure of mergers and regulatory approvals.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100