A Roller Coaster Ride of M&A: Case Study of Sun Pharmaceuticals Industries Limited & Taro Pharmaceuticals Industries Limited

Shri Chimanbhai Patel Institutes Working Paper No. CPI/MBA/2013/0001

16 Pages Posted: 8 Jan 2013 Last revised: 30 Jul 2014

See all articles by Arti Trivedi

Arti Trivedi

Shri Chimanbhai Patel Institute of Management & Research

Dr.Jay Desai

B.K.School of Business Management, Gujarat University

Nisarg A Joshi

Shri Chimanbhai Patel Institute of Management & Research

Date Written: January 8, 2013

Abstract

This is one wrestle which has rocked the two crown establishments in pharma space and has taken them through a roller coaster ride. The battalion of group companies for one of India’s leading drug maker Sun Pharmaceutical Industries Limited would have swiftly expanded to include another gigantic drug making company of Israel i.e. Taro Pharmaceutical Industries Limited. At the outset of entering into a concord for a friendly merger between Sun Pharmaceutical Industries Limited (India) and Taro Pharmaceuticals Industries Limited (Israel) (the “Proposed Transaction”), none of the parties would have contemplated that they would end up battling in courts or trying to settle the disputes through mediation. Manifestly, what was supposed to be the second largest outbound acquisition by an Indian company in the pharmacy space is now into disputed waters.

This M&A Case probes the commercial, legal, tax and regulatory aspects of the Proposed Transaction between Sun Pharmaceutical Industries Limited and Taro Pharmaceuticals Industries Limited.

Keywords: mergers and acquisition, corporate restructuring, commercial, legal, tax, regulatory, pharma

JEL Classification: G34, G38

Suggested Citation

Trivedi, Arti and Desai, Jay and Joshi, Nisarg A, A Roller Coaster Ride of M&A: Case Study of Sun Pharmaceuticals Industries Limited & Taro Pharmaceuticals Industries Limited (January 8, 2013). Shri Chimanbhai Patel Institutes Working Paper No. CPI/MBA/2013/0001, Available at SSRN: https://ssrn.com/abstract=2197797 or http://dx.doi.org/10.2139/ssrn.2197797

Arti Trivedi

Shri Chimanbhai Patel Institute of Management & Research ( email )

Opp. Karnavati Club
S G Highway
Ahmedabad, 380015
India
+91-79-30076616 (Phone)

HOME PAGE: http://www.artitrivedi.com

Jay Desai (Contact Author)

B.K.School of Business Management, Gujarat University ( email )

Navrangpura
Ahmedabad, Gujarat 380015
India
+91-79-26301342 (Phone)

HOME PAGE: http://www.jaydesai.net

Nisarg A Joshi

Shri Chimanbhai Patel Institute of Management & Research ( email )

Opp. Karnavati Club,
S.G. Highway
Ahmedabad, 380015
India

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