S.Africa's Adcock says Bidvest offer has lapsed

JOHANNESBURG, April 4 Thu Apr 4, 2013 10:24am EDT

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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)