Sun wins case against Israeli firm

Sep 08, 2010 |

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Sun Pharma, which was fighting a takeover battle with Israeli pharma major Taro, on Wednesday said that the Supreme Court of Israel has given the ruling in favour of the company. The Court has unanimously dismissed the appeal of Taro Pharma and has withdrawn its temporary order that prohibited the closing of the offer before its ruling, the Indian drug maker said. Sun Pharma, the single largest shareholder in Taro, has been trying to take control of the company ever since their 2007 merger deal.

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