Public Investment Corporation

South Africa's Foord increases Adcock stake to 15%

Cape Town, South Africa-based investment firm Foord Asset Management has lifted its stake in Johannesburg-based drug maker Adcock Ingram to 15%, according to a regulatory filing on Friday.

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South Africa pension fund thinks Bidvest's bid for Adcock Ingram is too low - source

An unnamed source told Reuters that drugmaker Adcock Ingram's largest shareholder Public Investment Corporation will not be putting up its 19% ownership stake for sale as the offer extended by potential buyer Bidvest undervalued its holding.

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