Sun Pharmaceuticals Offers To Buy Out Minority Shareholders In Unit Caraco Pharma
Written on December 1, 2010 by Maragaret Harrison
MUMBAI -(Dow Jones)- India’s Sun Pharmaceuticals Ltd. (524715.BY) said Saturday it had launched an offer to buyout minority shareholders of its unit Caraco Pharmaceutical Laboratories Inc. (CPD), in a bid to delist Caraco.
The drug maker said that it had offered to pay $4.75 per share in cash in a notification to the Bombay Stock Exchange.
Caraco declared a loss in the July-to-September period, and has been facing regulatory problems over the last year, hurting Sun Pharmaceutical’s U.S. sales.
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