S.Africa's Bidvest ups Adcock stake to block rival $1.2 bln bid<p><a href="http://news.yahoo.com/africa-39-adcock-shares-fall-2-pct-bidvest-080440083.html"><img src="http://l2.yimg.com/bt/api/res/1.2/0J_9LYYY00pgr9ocFkmQhQ--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3B4b2ZmPTUwO3B5b2ZmPTA7cT03NTt3PTEzMA--/http://media.zenfs.com/en_ZA/News/Reuters/2014-01-31T080440Z_1_AJOEA0U0MFX00_RTROPTP_2_OZABS-ADCOCK-CFR-20140131.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) - South Africa's Bidvest said it had raised its stake in drugmaker Adcock Ingram to over 34 percent, enough to block a rival $1.2 billion bid and prompt Adcock to seek urgent talks with its Chilean suitor. Bidvest's move - announced just hours before the start of Adcock's annual general meeting - is likely to end months of wrangling with Santiago-based CFR Pharmaceuticals over control of South Africa's second-largest drugmaker. Bidvest Chief Executive Brian Joffe wants Adcock's portfolio of over-the-counter medicines and a chance to turn around another underperforming firm.</p><br clear="all"/>
Source: S.Africa's Bidvest ups Adcock stake to block rival $1.2 bln bid (http://news.yahoo.com/africa-39-adcock-shares-fall-2-pct-bidvest-080440083.html)