Adcock’s board still backs $1.3bn CFR bid
|Published
A pharmacist counts pills in a pharmacy. File image: Reuters A pharmacist counts pills in a pharmacy. File image: Reuters
Johannesburg - The board of South Africa's Adcock Ingram on Thursday said a $1.3 billion takeover offer from Chile's CFR was in the best interest of all shareholders, responding to a rejection of the deal by the company's top investor.
“Adock Ingram will continue to engage with the PIC regarding its position,” Adcock Chairman Khotso Mokhele said in a statement, referring to the state-owned Public Investment Corporation, which came out this week against the deal. - Reuters