Johannesburg - A unit of South Africa's Bidvest Group has increased its stake in drugmaker Adcock Ingram to 6.8 percent, according to a regulatory filing, as the conglomerate looks to block a Chilean rival's $1.2 billion takeover offer.
Chile's CFR Pharmaceuticals has offered cash and shares to buy Adcock, South Africa's second-largest drug firm.
Bidvest, which first tried to buy control of Adcock in March, is looking to raise its stake to around a third to block CFR.
Bidvest has previously said it owns 4 percent. - Reuters