CFR's Adcock Ingram bid uncertain amid local opposition
This article was originally published in Scrip
A shareholder meeting due to be held on 18 December to vote on a recently improved bid by Chilean firm CFR Pharmaceuticals for South Africa's Adcock Ingram has been postponed until January. The vote has been delayed to give shareholders time to consider a revised offer. CFR will be hoping that it also buys it time to secure the backing of significant Adcock shareholders who have hitherto been hostile to the takeover.
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