MUMBAI, India Sun Pharmaceutical announced Friday that its subsidiary has extended the expiration date of its tender offer for the purchase of all outstanding shares of Taro Pharmaceutical Industries.
Alkaloida’s offer will now expire on Friday, April 3, at 5:00 p.m. EST, unless further extended or earlier terminated.
The offer was commenced last June in order to comply with the terms of the option agreement between Alkaloida and the controlling shareholders of Taro. Alkaloida extended a tender offer of $7.75 per share.
As of Mar. 19, total of 31,428 ordinary shares had been tendered and not withdrawn from the offer.