HAWTHORNE, N.Y.--(BUSINESS WIRE)--
Taro Pharmaceutical Industries Ltd. TARO (“Taro” or the
“Company”) announced today that it has commenced a modified “Dutch
auction” tender offer to repurchase up to $200 million of its ordinary
shares at a price not greater than $97.50 per share nor less than $84.50
per share (the “Offer”). If the Offer is fully subscribed, the number of
shares to be purchased in the Offer represents approximately 4.6% to
5.3% of Taro's currently issued and outstanding shares depending on the
purchase price payable for those shares pursuant to the Offer. The NYSE
closing price of Taro ordinary shares on November 22, 2013, the last
full trading day before today's announcement and commencement of this
tender offer, was $89.57 per share.
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