Sun seeks to acquire Caraco

DETROIT — An India-based drug maker is looking to acquire all outstanding shares of another generic drug manufacturer based in the United States.

Caraco said it received and will discuss the proposal from Sun Pharma, by which Sun would acquire all outstanding shares of common stock it doesn't already own.

The $4.75-per-share cash transaction represents a 5% premium over the closing price of Caraco common stock on Dec. 2, Caraco said.