In another twist involving the public protector’s office‚ the Minister of Co-operative Governance an.
The country's third largest drug maker Cipla Medpro SA (CMSA) is still considering a R2,1billion bid by rival Adcock Ingram, the company said yesterday.
CMSA said it had yet to form an opinion on the buy-out bid and a statement from the company on Friday, which said its chief executive and board did not support the takeover bid, had been "erroneously distributed".
"The board reiterates ... that it is in the process of properly and fully considering the offer by Adcock, and has yet to form an opinion on the offer," CMSA said yesterday.
Adcock Ingram, South Africa's second-biggest pharmaceutical firm, said earlier this month it planned to buy CMSA for R4,75 a share to boost its share of the generic drug market. - Reuters