CFR investors approve higher Adcock bid

Shareholders in Chilean drugmaker CFR Pharmaceuticals agreed on Friday to increase the firm’s bid for South African firm Adcock Ingram. CFR had said in December it would lift its bid for Adcock by 1.6%, to ZAR12.8bn ($1.23bn), by increasing the share price to ZAR74.5. Adcock Ingram’s shares closed at ZAR70.25 on Friday.