The end of Indian drugmaker Sun Pharmaceutical's long-running battle for total control of Israel's Taro Pharmaceutical Industries is nigh after the latter accepted a higher offer for the remainder of its stock.

Sun Pharmaceutical, which together with its affiliates already owned about 66% of outstanding ordinary stock, has been after the shares in Taro it does not already own in a long-running saga that dates back to 2007.

An offer of $24.50 a share was rejected earlier this year, but now Taro's board has accepted Sun's massively upped buy-price of $39.50 a share. 

Around 44.5 million shares are still outstanding, and the stake to be purchased by Sun is valued at about $571 million, according to Reuters.

Once the merger agreement has been completed, Sun plans to delist Taro from the New York Stock Exchange and turn it into a privately-held business.