Bidvest Group Ltd (BVTJ.J)
JOHANNESBURG, May 18 - South African firm Bidvest Group's offer to buy all the shares it does not already own in pharmaceutical company Adcock Ingram was rejected by an overwhelming majority.
JOHANNESBURG, April 30 - South African firm Bidvest Group has only raised its stake in Adcock Ingram by 1 percent since launching an offer for the drug maker, a sign that most shareholders are unwilling to accept a $500 million bid.
* Bidvest, in its sole discretion and after having attained approval, has extended closing date of adcock offer to friday, may 18 2015
* Opinion on Bidvest offer, posting of response circular and renewal of cautionary announcement
* Union says would oppose any job cuts in revamp (Releads with Bidvest CEO comment)
JOHANNESBURG, March 11 - South Africa's Bidvest Group is in talks with a fellow shareholder in Adcock Ingram, the Public Investment Corporation (PIC), to jointly control nearly half of struggling drugmaker, it said on Wednesday.
JOHANNESBURG - The chief executive of South Africa's Bidvest Group said his $515 million buyout offer for Adcock Ingram is likely to be rejected by a major shareholder, meaning the industrial conglomerate could end up with less than 100 percent.
* Bidvest offered 52 rand per share, or $515 mln (For other news from Reuters Africa Investment Summit, click on http://www.reuters.com/summit/Africa15)
JOHANNESBURG - South African conglomerate Bidvest has offered about $515 million for the shares it does not already own in drugmaker Adcock Ingram in a new attempt to build a big presence in the pharmaceutical market.
* Shares in Adcock jump more than four percent (Adds analyst comment)