Adcock Ingram: CFR pre-conditions date delayed

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Adcock Ingram and CFR Pharmaceuticals had agreed to extend the date for the fulfilment of certain pre-conditions from January 15 to January 31, the companies said in a joint statement on Friday. This was because it was taking longer than expected to obtain the necessary approval from the Companies and Intellectual Property Commission, which once received would necessitate the amended salient dates being submitted to other regulators before the finalisation of the shareholder documentation, they said. Chilean company CFR aims to acquire Adcock, but the success of its plan is uncertain given the opposition of some shareholders to the transaction. – Staff reporter

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