5/13/2013 7:53:57 AM
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Pharmaceutical group Adcock Ingram is being pursued by two new suitors, in addition to Brian Joffe’s Bidvest. Speculation is running high that French pharmaceutical giant Sanofi is firmly in the running. Insiders say a number of multinational companies have been looking to carve up Adcock ever since Bidvest made an opportunistic R6.2bn bid for it in March — an offer that has sat on the shelf since Adcock’s board refused to present it to shareholders a few weeks ago. Sanofi, the fourth-largest drug company in the world with a presence in more than 100 countries, has some experience of takeovers, swallowing rival Aventis in 2004 for €54.5bn. With a market value of €112bn, Sanofi could easily digest Adcock.
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