Taro stockholder continues campaign to forestall "lowball bid"
An activist investor has renewed its effort to prevent Taro Pharmaceutical (NYSE: TARO) from accepting a buyout bid from Sun Pharmaceutical (BSE: 524715).
Indian firm Sun Pharma, which already owns nearly four fifths of the Israeli generics drugmaker, announced its intention to pick up all outstanding shares of the company at the start of the year.
Now, a statement from Taro’s largest minority shareholder, Krensavage Asset Management, alleges that the company is: “relying on an investment bank's flawed analysis” to justify the sale.
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