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S.Africa's Adcock further delays vote on $1.2 bln CFR offer
January 9, 2014 / 10:46 AM / in 4 years

S.Africa's Adcock further delays vote on $1.2 bln CFR offer

* Vote on $1.2 bln takeover pushed back to mid-February

* Seeks regulatory approval of shareholder documents

JOHANNESBURG, Jan 9 (Reuters) - South African drugmaker Adcock Ingram said on Thursday it would further postpone a shareholder vote on a $1.2 billion takeover offer from Chile’s CFR Pharmaceuticals because it was still waiting for regulatory approval.

Adcock shareholders in December voted to postpone the vote until this month to give themselves more time to consider the sweetened offer from Santiago-based CFR.

But the vote is now likely to be delayed until mid-February, because regulatory approval of shareholder documentation was taking longer than anticipated, Adcock said in a statement. ($1 = 10.7122 South African rand) (Reporting by David Dolan; Editing by David Holmes)

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