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Daiichi Sankyo Buy Of 20 Percent More Of India's Zenotech Suspended

This article was originally published in PharmAsia News

Executive Summary

Daiichi Sankyo has been ordered by an Indian court to postpone its attempt to buy shares in Zenotech Laboratories, an India-based maker of generic drugs. The court ordered the acquisition attempt suspended until the opposition of some shareholders can be resolved. Daiichi Sankyo has sought to buy 20 percent of Zenotech on its own. It already owns 47 percent through its earlier acquisition of Ranbaxy Laboratories. Minority stakeholders took the case to court challenging the Daiichi Sankyo offer as too low. (Click here for more
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