KOLKATA: Emami has announced an open offer to pick up stakes up to 20 per cent from the shareholders of Zandu Pharmaceutical Works. The offer has been priced at Rs. 7,315 against last 26 week’s average price of Rs. 6,807.07 and that of the last two weeks average price of Rs. 7,136.90, a release said. The offer opens on July 24 and closes on August 12. — Special Correspondent