NEW YORK, July 19, 2023 /PRNewswire/ -- As the largest minority shareholder1 of Taro Pharmaceutical Industries Ltd. (NYSE: TARO), Krensavage Asset Management LLC opposes Sun Pharmaceutical Industries Ltd.'s paltry bid to take Taro private.
Notes:
1Krensavage Asset Management's 641,910 shares of Taro on March 31 make it Taro's No. 2 shareholder, according to Bloomberg.
2Tangible assets equal assets of $2.1 billion on March 31 minus goodwill of $17 million and liabilities of $405 million.
3Krensavage defines Taro's net cash as current assets of $1.3 billion plus long-term marketable securities of $405 million minus current liabilities of $386 million.
4Bloomberg lists Sun's closing market cap on July 13 as $31.4 billion.
5Taro had 37,584,631 shares outstanding as of March 31. Sun controlled 29,497,813 shares of Taro according to Sun's May 26 13D/A.
Contact:
David W. Walbert
Senior Analyst
Krensavage Asset Management LLC
Office: (212) 706-0589
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