Taro Pharma Shareholders Get Advise To Vote To Support Merger With Sun Pharma

(RTTNews) - Taro Pharmaceuticals Industries Ltd. (TARO), Wednesday announced that two independent proxy advisor firms Institutional Shareholder Services and Glass Lewis & Co. have advised the company's shareholders to vote 'for' merger transaction with India-based Sun Pharmaceuticals Ltd.(SUNPHARMA, 524715)

The company further stated that its Special Committee, Board of Directors, and Audit Committee also support proxy firms' move.

Earlier, Sun Pharma had proposed to acquire all outstanding shares of Taro for $43 per share in cash.

Currently, Taro's stock is trading at $42.35, down 0.17 percent on the New York Stock Exchange.