Taro terminates merger deal with Sun Pharma
Home-grown pharma major Sun Pharmaceutical's $454-million deal to acquire Israeli firm Taro Pharmaceuticals has fallen through with the latter terminating the merger agreement due to differences in financial valuation. Taro's Board of Directors unanimously determined that permitting the merger agreement, signed in May 2007, to remain in force was no longer in the best interest of the company, Taro said in a statement.
