The Hindu Business Line : SC to hear Zenotech case on Dec 2

The Supreme Court will take up the final hearing on the open offer-price dispute between Zenotech Laboratories Ltd and Daiichi Sankyo Company Ltd on December 2, 2009. The Japanese drug-maker had moved the Supreme Court against a direction of the Securities Appellate Tribunal (SAT) to make an open offer to shareholders of Hyderabad-based Zenotech Labs at Rs 160 a share. The SAT had dismissed an earlier order by SEBI, allowing Daiichi to go for the offer at Rs 113 a share. Daiichi has to make the open offer to Zenotech's shareholders to acquire 20 per cent additional stake following the acquisition of Ranbaxy Laboratories Ltd. - Our Bureau

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