India’s Cipla plans $512 million takeover of South Africa’s Cipla Medpro

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Hamied, chairman and MD of Indian generic drugmaker Cipla, poses for picture in front of cabinet containing company's products before an interview in Mumbai* Raises per-share price to 10 rand from 8.55 rand * Plans to delist Cipla Medpro when sale complete MUMBAI (Reuters) – Indian drugmaker Cipla Ltd on Thursday sweetened its offer by 17 percent to take over South Africa's third-largest drugmaker, Cipla Medpro South Africa Ltd, ending the uncertainty of an earlier offer that had been put on hold by the Indian company. Cipla, India's fifth-largest drugmaker by sales, said it would spend about $512 million, or 10 rand a share, to acquire Cipla Medpro and then delist the South African drugmaker. …

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