The Hindu Business Line : Open offer for Zenotech

Hyderabad, Oct. 5 Rabo India Securities, on behalf of Ranbaxy Laboratories Ltd (acquirer), has issued a public announcement to the shareholders of Zenotech Laboratories Ltd (target company).

According to a statement issued to the BSE, the acquirer proposes to acquire from the existing non-promoter shareholders of the target company up to 68,93,000 fully paid-up equity shares representing 20 per cent of the expanded equity capital at a price of Rs 160 for each fully paid-up equity share, to be paid in cash in accordance with the SEBI regulations.

The offer dated October 26 opens on November 19 and closes on December 8. Ranbaxy earlier this week announced it has hiked its stake to 45 per cent in Zenotech.

More Stories on : Open Offers | Pharmaceuticals

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