Sun Pharmaceuticals Offers To Buy Out Minority Shareholders In Unit Caraco Pharma
December 04 2010 - 4:02AM
Dow Jones News
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.
-By Bijou George, Dow Jones Newswires; +91-22-6145-6111;
bijou.george@dowjones.com
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