Taro Shareholders have approved the merger with Sun Pharma, the Companies report.
The details of the merger agreement were announced on January 17, 2024. Upon completion of the merger, currently expected to close in approximately 35 days (subject to the satisfaction or waiver of certain closing conditions), Taro will become a privately held company wholly owned by Sun Pharma and soon after its shares will be de-listed from the NYSE.
“We are pleased with the approval by Taro’s shareholders, which, subject to the remaining closing conditions, will enable Taro to merge with Sun,” says Dilip Shanghvi, Managing Director of Sun Pharma, in a news release. “The combined entity will enable us to better serve the needs of patients, healthcare professionals and our customers around the world.”
Uday Baldota, Chief Executive Officer of Taro, adds, “Throughout our fifteen-year relationship with Sun Pharma, Taro has benefited from their global scale and resources. This merger will further enable us to compete effectively in our products and markets.”
