South Africa's Adcock shares jump as Bidvest looks to raise stake

[riky]

South Africa's Adcock shares jump as Bidvest looks to raise stake

<p><a href="http://news.yahoo.com/south-africas-adcock-jumps-news-bidvest-looking-lift-083839471.html"><img src="http://l.yimg.com/bt/api/res/1.2/I61m558_lY5vByNBWoggJQ--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3B4b2ZmPTUwO3B5b2ZmPTA7cT03NTt3PTEzMA--/http://media.zenfs.com/en_ZA/News/Reuters/2014-08-22T083750Z_1007950001_LYNXMPEA7L0B9_RTROPTP_2_OZABS-UK-BIDVEST-GROUP-ADCOCK-INGRAM.JPG" width="130" height="86" alt="A man walks past the Adcock Ingram offices in Johannesburg" align="left" title="A man walks past the Adcock Ingram offices in Johannesburg" border="0" /></a>By Tiisetso Motsoeneng JOHANNESBURG (Reuters) - Shares in struggling South African drugmaker Adcock Ingram surged more than 7 percent on Friday on news that top shareholder Bidvest Group was looking to raise its stake, a move that could trigger a full buy-out. Bidvest Chief Executive Brian Joffe, one of South Africa's top dealmakers, has been trying to take control of Adcock since March last year, seeing a chance to turn around another underperforming company and add painkillers and cough syrups to his stable of products. Bidvest is a conglomerate that spans shipping to catering and owns 34.5 percent of Adcock, South Africa's second-largest drugmaker. A document from South Africa's competition regulator seen by Reuters on Thursday said Bidvest intended to increase that to more than 50 percent.</p><br clear="all"/>

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