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One more thing on Bidvest offer

Just one thing to add to the Bidvest offer to everyone else at Adcock Ingram at 52 Rand a share, if you take your stake (in this case Bidvest) over 35 percent, you are obliged to offer everyone else the same price, being 52 Rand. I do not expect the major shareholders to take this, the PIC being the other big one who rebuffed the Chileans, CFR, at and around 72 Rand a share now are hardly going to accept 52 Rand. It is just a formality really. Read nothing more into it that Bidvest have managed to get two of the major shareholders to accept their advances. With this acquisition they are edging closer to owning more than half the shares, removing uncertainty as to their intentions. They eventually want all of it, Bidvest that is, they want all of Adcock eventually. I guess if the price is right for the PIC, they will take it.


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