S.Africa's Adcock says Bidvest offer has lapsed
JOHANNESBURG, April 4
JOHANNESBURG, April 4 (Reuters) - South African drugmaker Adcock Ingram said on Thursday its board is not looking at Bidvest's $675 million takover offer because it has lapsed.
Bidvest had given Adcock until April 2 to express a view on the offer but the board of the drugmaker snubbed the offer saying it had lacked detail for it to express a view about its merits to shareholders. (Reporting by Tiisetso Motsoeneng; editing by David Dolan)