Taro To Buy Back Up To $200 Mln Of Ordinary Shares - Quick Facts

(RTTNews) - Taro Pharmaceutical Industries Ltd. (TARO), Monday reported final results of its modified 'Dutch auction' self-tender offer to repurchase up to $200 million of its ordinary shares, which expired on December 23. Based on the final count by American Stock Transfer & Trust Company, LLC, the Depositary for the tender offer, about 1.95 million shares were properly tendered and not properly withdrawn at or below the final purchase price of $97.50 per share.

Pursuant to the offer, the firm accepted for payment nearly 1.95 million shares for an aggregate consideration of about $191 million, excluding fees and expenses relating to the offer. These shares represent almost 4.4 percent of the company's issued and outstanding ordinary shares as of November 20.

The dealer manager for the tender offer was J.P. Morgan Securities LLC, while the information agent was MacKenzie Partners Inc.