• Sign Up
  • |
  • Sign In Sign Out
  • |
  • Make us your home
  • |
  • RSS
1 2
1 15
1 4
1 9
1 13
1 14
IPO
1 25
1 5015
1 5018
  • SMS BOS < SPACE > MF, MUTUAL FUND QUERY AT 56388
  • COS GETTING FRESH FDI IN SECTORS WHERE FDI CAPS HAVE GONE UP: SOURCES
  • NEW NORMS TO CONSIDER TOTAL FOREIGN INVESTMENT NOT TOTAL INVESTMENT: SRCS
  • CCEA NOD NEEDED ONLY FOR INVESTMENTS OF RS.1200 CR AND ABOVE: SOURCES
  • GOVT TO EASE NORMS FOR FDI REQUIRING CABINET APPROVAL: SOURCES
  • NO PLANS TO OFFER HOME LOANS AT 8%: NW
  • OCTOBER UNEMPLOYMENT RATE RISES TO 10.2% VS 9.8% (MOM)
  • EMPLOYERS CUT PAYROLLS BY 190,000 IN OCTOBER VS ESTIMATE OF 175,000
  • FOREIGN FUNDS NET BUY RS.587.02 CR IN EQUITIES ON NOVEMBER 6 (PROVISIONAL)
  • DOMESTIC FUNDS NET BUY RS.236.62 CR IN EQUITIES ON NOVEMBER 6 (PROVISIONAL)
  • KINGFISHER RAISES FUEL SURCHARGE BY RS.200 ON SECTORS MORE THAN 1000 KM
  • KINGFISHER RAISES FUEL SURCHARGE BY RS.100 ON SECTORS UPTO 1000 KM
  • JET AIRWAYS RAISES FUEL SURCHARGE BY RS.100-150 ON SECTORS UPTO 1000 KM
  • NET PROFIT AT $455 MN VS LOSS OF $24.6 BN (YOY)
  • TOTAL REVENUES AT $26.05 BN VS $898 MN (YOY)
  • MUTUAL FUNDS NET BUY RS.34.3 CR IN EQUITIES ON NOVEMBER 5
  • FOREIGN FUNDS NET BUY RS.267.6 CR ($56.8 MN) IN EQUITIES ON NOVEMBER 5
  • OVER 7% GROWTH ACHIEVABLE IN FY'11
  • TO EXPLORE STIMULUS EXIT MODE NOW; WINDING DOWN STIMULUS TO CUT DEFICIT
  • SENSEX UP 1.65%, NIFTY UP 1.8% FOR THE WEEK
  • CNX MIDCAP INDEX UP 3.9%, BSE SMALLCAP INDEX UP 1.6%
  • BSE PSU INDEX UP 4.77%, REALTY UP 4.4%, METAL INDEX UP 4%
  • INDEX GAINERS: BHARTI UP 9.4%, JP ASSOCIATES UP 8.6%, IDFC UP 7%
  • GETS U.S. FDA NOD FOR GENERIC ACULAR
  • TO RAISE UPTO $300 MN VIA FCCBS
  • EXTENDING 8% HOME LOAN SCHEME TILL 31ST MARCH , 2010
  • INDIAN RAILWAYS SHOULD RATIONALISE PASSENGER FARES UPWARD
  • TO RAILWAYS: STOP CROSS SUBSIDISING FARES AND FREIGHTS
  • IMPOSES 20% SAFEGUARD DUTY ON IMPORT OF SODA ASH
  • ROAD DEFICIT REMAINS THE GREATEST PROBLEM IN INFRASTRUCTURE IN INDIA
Updated: 06/01/2009 | 12:10 AM IST
Sun-Taro issue nears end
NDTV Correspondent
Tuesday, January 06, 2009 (New Delhi)
Comments:
Read (0)

The saga of Sun Pharma's protracted battle to acquire control of Israel’s Taro Pharma seems to be approaching its final hours.

Sun, in a last ditch attempt at an early resolution has proposed two options.

The first involves a 22 per cent premium to its earlier offer, which will cost Sun $45 million or more.

But if agreed to by the Taro promoters, it should give Sun 100 per cent control of the company.

Besides, the Taro promoters will also have to vacate all executive positions.

The second option offers a 16 per cent premium on a tender offer.

The Taro promoters are required to recommend to shareholders to tender their shares at $9 per share it may also be quicker as the offer closes in 10 days.

Meanwhile, in a separate letter to the Taro board, Sun rubbished all claims of a financial turnaround at Taro based on which Taro was claiming a higher valuation.

Sun claims that much of the improvement in Taro's profitability is due to lower R&D, which may be detrimental in the medium term.

Moreover, Sun in a release to BSE said that it is awaiting a response to its proposals from Taro.

Meanwhile, an Israeli newspaper Calcalist reported on Sunday that Taro has rejected Sun's offer to settle out-of-court.

However, the Sun Pharma Chief was not reachable for a clarification on the same, but if the report of rejection is true, then the Supreme Court's decision on January 9 will certainly become paramount.

Comments:
Read (0)
Comments
 
Market Watch
         
Graphs
Stocks

                                Moremore
Stock Dashboard
Trading Calls
Ashuu Kakkarr
Ashuu Kakkarr
0.48% status
Current: Rs 848.75
Stock Recos
The stock may touch Rs 120 in 6-8 months
The investors can hold the stock for the medium term with a stoploss of Rs 45
Buy or Sell
Today's Analyst: Shruti Vora
Query : Hitesh Sarkar, an investor from Surat, has 500 Wockhardt at Rs 194/share.