CFR African Vote Pushed to January

CFR African Vote Pushed to January

Chile M&A Africa

Shareholders of South Africa’s Adcock Ingram have postponed a vote on CFR Pharmaceuticals’ takeover offer to January from this week, the drugmaker says. The move follows a recent increase of the Chilean’s cash and stock takeover offer by 1.6% to ZAR12.8bn ($1.23bn). The offer was up from ZAR12.6bn. CFR’s bid comes at ZAR74.50 per share, up from ZAR73.51, and contemplates ZAR6.4bn-ZAR8.2bn in cash, and ZAR4.6bn-ZAR6.3bn in CFR shares. CFR claimed the support of shareholders holding 53% of Adcock

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