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news.Sun Pharmaceutical Industries has announced that the US Federal Trade Commission granted early termination of the antitrust waiting period under the Hart-Scott-Rodino Act for the previously announced tender offer by Alkaloida Chemical Company Exclusive Group, a subsidiary of Sun Pharma, for all outstanding ordinary shares of Taro Pharmaceutical Industries.
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Clearance under the Hart-Scott-Rodino Act meets one of the conditions to the tender offer. The offer is scheduled to expire on September 2, 2008 unless extended.
The offer was commenced on June 30, 2008 in order to comply with the terms of the option agreement between Alkaloida and the controlling shareholders of Taro.