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stock market news Taro Pharmaceutical Industries Ltd. • Pharmaceutical industry Sun Pharma offers to acquire 100% stake in Taro in an all-cash deal Sun Pharma proposes to fully acquire Israel-based Taro Pharmaceutical Industries Sun Pharmaceutical Industries on Saturday said it has proposed to fully acquire Israel-based Taro Pharmaceutical Industries through a reverse triangular merger. Sun Pharma currently owns a per cent stake in Taro. “We envisage the proposed transaction to be consummated in the form of a reverse triangular merger under the Israeli Companies Law, 1999 and practice,“ Sun Pharma said in a regulatory filing. The purchase price represents a premium of 31.2 per cent over Taro’s closing price on May 25, 2023, a 41.5 per cent premium over Taro’s average closing price in the last 60 days and a compelling liquidity opportunity for Taro’s shareholders, it added. Under the indicative proposal, post the acq