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Johannesburg - sold all of its roughly 2.2% stake in
Ingram [JSE:AIP] on the open market on Friday, a spokesperson said, backing
conglomerate Bidvest's attempt to block a takeover by a Chilean firm.
-based CFR Pharmaceuticals has offered $1.2bn (over R12bn) in cash and shares for all of .
Bidvest [JSE:BVT] has countered by offering cash for around a third of , which would give it a big enough stake to vote down the deal.
"In terms of the CFR offer, we believed the CFR shares were expensive and carried a higher risk," Oasis spokesperson said.
