| In a filing with the Securities and Exchange Commission, Templeton, which holds a 9 per cent stake in Taro, said that Sun's offer of $7.75 a share is too low and unjust to the minority shareholders of Taro. |
| In a letter to Taro, Mobius said the company should cancel the deal with Sun and reveal critical information regarding the financial status of the company to all its shareholders. |
| Templeton also sought a temporary injunction in a Tel-Aviv district court to prevent Taro from entering into the transaction. |
| It also filed a motion for the appointment of a special interim manager to review the company's efforts to identify an appropriate transaction. |
| The court will hear the petition on September 19, two months after the Taro general shareholders' meeting to approve the deal, which will be held on July 23. |
| It also alleged that Taro and its executives are acting in a way that is liable to drive the company into insolvency. |
| Earlier, Brandes Investment Partners, the second-largest shareholder in Taro, had indicated that it plans to vote against the Sun acquisition. |
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