An acquisition of the US based eye care firm InSite Vision has been completed by Sun Pharmaceutical Industries.
According to a statement by Sun Pharma, the acquisition has been completed by means of a short-form merger under the Delaware law.
InSite Vision, post merger has become an indirect wholly owned subsidiary of Sun Pharma.
Each issued and outstanding share of InSite common stock has been converted into the right to receive USD 0.35 as a result of the merger, says the company.
The statement said that “Holders of shares of InSite common stock that did not tender their shares into the tender offer will receive by mail written instructions for surrendering their share certificates or transferring their book-entry shares, including a letter of transmittal, and information regarding the exercise of appraisal rights under the Delaware law.”