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Sun calls off $600 mn plan to buyout remaining stake in Taro

In another twist to Sun-Taro battle, the domestic drug major today called off nearly USD 600 million plan (over Rs 3,100 crore) to acquire outstanding shares of Israel's Taro Pharmaceutical citing pricing issues.

Taro Pharma agrees to higher buyout offer from Sun Pharma

The merger agreement provides that all shareholders of Taro other than Sun Pharma and its affiliates will receive a cash payment of USD 39.50 per share upon the closure of the merger deal, it added.