Caraco Pharmaceutical Laboratories Ltd. has received a buyout proposal from Sun Pharmaceutical Industries Ltd. and Sun Pharma Global Inc.


Caraco Pharmaceutical Laboratories, Sun Pharmaceutical Industries, Sun Pharma Global, buyout, generic pharmaceuticals, G. P. Singh Sachdeva, Jitendra Doshi








































































































































































































































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Caraco receives proposal to go private

December 6th, 2010

DETROIT – Caraco Pharmaceutical Laboratories Ltd. has received a buyout proposal from Sun Pharmaceutical Industries Ltd. and Sun Pharma Global Inc.

Caraco said Monday that under the proposal to take the generic pharmaceutical company private, Sun, Sun Global and/or one or more of their affiliates would acquire all of the outstanding shares of Caraco common stock for $4.75 per share in cash, a 5% premium over the closing price of the stock on Dec. 2. Sun and Sun Global together own more than 75% of Caraco's common stock.

The Caraco board is slated to meet Tuesday to discuss the proposal and determine the next steps to be taken.

Detroit-based Caraco develops, manufactures, markets and distributes generic pharmaceuticals to the nation's largest wholesalers, distributors, drug store chains and managed care providers.

The company recently introduced a new chief executive officer. G. P. Singh Sachdeva assumed the CEO post last month after the resignation of Jitendra Doshi as interim CEO because of personal and health-related reasons.

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