South Africa's Bidvest bought most of a record 39 million shares in Adcock Ingram that traded on Thursday, a person familiar with the matter said, and now may have a big enough stake to block a $1.2 billion takeover offer.Chile's CFR Pharmaceuticals, which aims to build an emerging markets powerhouse with operations in Latin America, Asia and Africa, made an offer in November for Adcock, South Africa's second-biggest drugmaker.Bidvest, which had tried and failed to purchase control of Adcock in March 2013, has responded with a 4 billion rand ($359 million) cash offer direct to shareholders, which expires next week.Thursday's record trading volume represented about 22 percent of Adcock's shares, with most trading at Bidvest's offer price of 70 rand a share, according to the exchange and Thomson Reuters data.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 1.06% or $0.38/share to $36.32. In the past year, the shares have traded as low as $29.33 and as high as $38.73. On average, 703654 shares of TRI exchange hands on a given day and today's volume is recorded at 165277.
Shares of TRI traded higher by 0.92% or $0.37/share to $40.56. In the past year, the shares have traded as low as $29.40 and as high as $42.10. On average, 871422 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 291182.
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