CFR Still with Top Bid for South African

CFR Still with Top Bid for South African

Chile M&A Africa

South African drug maker Adcock Ingram has received additional unsolicited bids from potential buyers, it says, but none yet bigger than a $1.3bn takeover offer from Chile’s CFR. CFR offered ZAR12.9bn ($1.3bn), or ZAR73.51 per share, last month. “Whilst there is still no certainty that a firm offer will either be proposed or implemented, the independent board continues to engage exclusively with CFR with a view to a firm offer being made to Adcock Ingram shareholders by way of a scheme of arrang

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