September 11, 2013 / 2:22 PM / 4 years ago

Chile's CFR bids $1.3 bln for S.Africa's Adcock

JOHANNESBURG, Sept 11 (Reuters) - Chile’s CFR has bid 12.6 billion rand ($1.26 billion)in cash and shares for South Africa’s Adcock Ingram, the two companies said on Wednesday, in a tie-up of emerging market drugmakers.

Under the terms of the deal - which was recommended by Adcock’s board - CFR will offer up to 47.29 rand in cash per Adcock share and up to 15.44 new CFR shares.

The deal would see Adcock delisted from Johannesburg, where CFR would have a secondary listing, the companies said. ($1 = 9.9784 South African rand) (Reporting by David Dolan; Editing by Ed Stoddard)

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