S.Africa's PIC pension fund lifts Adcock stake to over 22 pct
JOHANNESBURG Dec 24 (Reuters) - South Africa's state pension fund has increased its stake in drugmaker Adcock Ingram to over 22 percent, a regulatory filing showed on Tuesday, putting the fund closer to being able to overturn a Chilean takeover bid.
Chile's CFR Pharmaceuticals has bid $1.2 billion in cash and stock for Adcock, a deal the state-run PIC has opposed. The deal requires approval from shareholders holding 75 percent of Adcock. (Reporting by David Dolan; Editing by Ed Stoddard)
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