PIC hits back at Chilean Adcock bidder

2013-12-22 14:00

The battle for drug company Adcock Ingram has turned somewhat bitter, but not between rival bidders Bidvest and Chilean pharmaceutical company CFR, as one might have thought.

PIC chief executive Elias Masilela hit back at CFR on Friday, saying the corporation was opposing the deal because it believed a lot more value could be extracted for Adcock shareholders through changes in how the company is managed.

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