Guggenheim Said to Offer $15 a Share for Sun Pharmaceutical's Taro Stake

Taro Pharmaceutical Industries Ltd. said its investment bank, Guggenheim Securities LLC, “is highly confident” it can arrange for institutional investors to buy Sun Pharmaceutical Industries Ltd.’s stake in Taro for $15 a share. Taro commented in a regulatory filing. Sun told Guggenheim that Sun wasn’t interested in pursuing the offer, according to the filing.

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