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Sun had commenced an open offer for Taro in June last year through its subsidiary, Alkaloida Chemical Company Exclusive Group, to acquire all shares of Taro.
The domestic entity in a filing to the Bombay Stock Exchange (BSE), said it has filed for restarting the Hart-Scott-Rodino (HSR) Act for waiting period related to the tender offer for all outstanding Taro shares.
The HSR Act requires an automatic review of planned merger (or tender offer) agreements, if the size of the proposed transaction crosses a certain amount.
According to the filing, Sun has filed the application with the US Federal Trade Commission and the Antitrust Division of the US Department of Justice on August 27.
Both Sun and Taro are listed in the US.
The tender offer at a price of US$7.75 per ordinary share, which began last year, was challenged by Taro and Israel's Supreme Court prohibited Sun from closing the offer until it gave a verdict on the issue.
The offer began in compliance with the Option Agreement between Alkaloida and the controlling shareholders of Taro. As on August 27, the statement said 32,252 ordinary shares of Taro had been tendered and not withdrawn from the offer.
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