An open offer was made by Daiichi Sankyo to Zenotech Laboratories' shareholders at Rs 113.62 per share. This comes after it revised its earlier open offer price of Rs 160 per share.

Jayaram Chigrupati, MD, Zenotech Laboratories reacted to the development, "The agreement on open offer price was reached in July 2008. The agreed price was reached after shareholders filed a case post the Ranbaxy-Daiichi deal. The suit was withdrawn after Daiichi agreed to open offer price of Rs 160 per share."

The Japanese Pharmaceutical major didn't give any reason for change in the open offer price.

He further informed that Zenotech had called upon the market regulator SEBI to protect the interest of minority shareholder and also that government should come and deal with the issue.