Bidvest unit increases Adcock stake to 6.8 pct
JOHANNESBURG Dec 6 (Reuters) - A unit of South Africa's Bidvest Group has increased its stake in drugmaker Adcock Ingram to 6.8 percent, according to a regulatory filing, as the conglomerate looks to block a Chilean rival's $1.2 billion takeover offer.
Chile's CFR Pharmaceuticals has offered cash and shares to buy Adcock, South Africa's second-largest drug firm. Bidvest, which first tried to buy control of Adcock in March, is looking to raise its stake to around a third to block CFR.
- Ukraine forces kill up to five rebels, Russia starts drill near border |
- Boy and girl on Korean ferry drowned with life jackets tied together |
- Children's corpses reveal desperate attempts to escape Korean ferry |
- Apple's China success sets stage for iPhone 6, new products
- Zimmer to buy Biomet for $13.35 billion in latest consolidation