Tuesday, January 20, 2009

Zenotech may drag Daiichi to SEBI

Zenotech Laboratories may take Japanese drug maker Daiichi Sankyo to market regulator SEBI for not honoring a commitment to make an open offer at a previously agreed upon price of Rs 160 a share.

Zenotech has rejected the open offer price of Rs 113.62 a share made by Daiichi Sankyo for acquiring 20% additional stake in the company as according to the company the current offer price was way below the earlier agreed price

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