Emami Sweetens Zandu Offer

The fast moving consumer goods major (FMCG), Emami Ltd, on Friday said that it has revised the open offer price for purchasing 20 percent stake in Zandu Pharmaceutical to Rs 16,500 per share. 

Earlier this month, the company said that it has more than doubled its open offer price for Zandu to 15000 rupees a share from 7315 rupees earlier.

Emami had made the open offer for 20 percent of Zandu shares in June, in line with Indian takeover regulations, after it raised its stake in the maker of Zandu balm to 27.51 percent by buying shares from some of the promoters.

The open offer that started on September 26, would close on October 15.

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