Tel-Aviv court ruling gives hope to Sun Pharma

There's a new ray of hope for Sun Pharma after a Tel-Aviv court ruled in favour of the company. The court quashed demands from Taro that Sun should make a special tender offer to complete its buyout. Taro's case was largely built on the interpretation of the Israeli corporate law but the fact that a Israeli Court has ruled against it assumes much significance as it would also influence the other case which is going on in the US right now.