Taro Calls Off Merger With Sun

On Friday, Taro Pharmaceutical (NYSE: TARO  ) announced that it and Sun Pharmaceutical Industries have called off their merger agreement by mutual agreement, saying the decision is "in the best interest of the respective companies and shareholders."

This means Taro shareholders can no longer expect to be cashed out of their shares at the agreed price of $39.50. However, considering Taro shares currently fetch $51.96 on the open market, that's not particularly bad news. In fact, investors seem to think it's quite good news and bid up Taro shares by 2.8% Friday in response.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2246446, ~/Articles/ArticleHandler.aspx, 4/24/2014 1:26:05 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

TREND TRACKER: Get Rich When the Web Goes Dark

It's time to say "goodbye" to your Internet! One bleeding-edge technology is about to put the World Wide Web to bed. And if you act right away, it could make you wildly rich. Experts are calling it the single largest business opportunity in the history of capitalism… The Economist is calling it "transformative"... but you'll probably just call it "how I made my millions." Big money is already on the move. Don't be too late to the party – find out the 1 stock to own when the Web goes dark.


Advertisement