Taro Pharmaceutical Industries Limited , controlled by the Levitt and Moros families, will be sold in its entirety to Sun Pharmaceutical Industries Ltd of India for $454 million. Taro's current market cap is about $180 million.
Sun will pay some $230 million to buy the shares in Taro. The remainder of the purchase price will go to cover Taro's debts. Sun will pay $7.75 for each Taro share, a price that represents a premium of 27% over the share's closing price last Thursday.
Source : Globes