Related topics: Mergers and acquisitions, Industry Drivers
Taro chairman Barrie Levitt says Sun’s publication of details of incomplete settlement talks designed to address the parties’ long running acquisition battle violates confidentiality agreements and presents a one-sided view of current events.
In a letter to Sun Pharmaceuticals chairman Dilip Shanghvi, Levitt said that the decision to release the information “raises serious questions as to Sun's good faith, and suggests that Sun's real interest is in winning some sort of ‘public relations battle’ and posturing itself advantageously in the eyes of the Supreme Court.”
The long running saga looks set to continue into 2009.
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