South Africans Approve CFR Offer

South Africans Approve CFR Offer

Chile M&A Africa

The board of South African drugmaker Adcock Ingram agreed to support a ZAR12.6bn ($1.3bn) billion cash and share offer from Chile's CFR Pharmaceuticals, Adcock says. CFR first proposed the bid in July for the South African, the target of other offers. CFR would pay as much as ZAR47.29 cash per Adcock share and issue up to 15.44 new CFR shares per Adcock share, or a total of ZAR75.92 per share. The drugmaker's largest shareholder, the government-owned Public Investment Corporation, has said it wo

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