Feb 8 (Reuters) - India's Sun Pharmaceutical Industries Ltd
ended its agreement to gain full control over its
Israeli unit Taro Pharmaceutical Industries Ltd.
The companies decided that ending the deal was in the best
interest of their shareholders, Sun Pharma and Taro said in a
Sun Pharma had last offered $39.50 per share, or about $571
million, for the one-third stake it did not already own in Taro,
seemingly winning over the Israeli company's board following a
long battle to gain full control of the U.S. listed drugmaker.
Taro shares closed at $50.55 on Thursday on the New York
Stock Exchange. Sun Pharma shares closed at 746.10 rupees on
Friday on the National Stock Exchange.