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Johannesburg - Shares in Adcock Ingram fell more than 2% in early trade on Friday.
This is a day after a source told Reuters that Bidvest had bought most of a record 39 million shares traded on that day.
Adcock fell as much as 2.11% before recouping some of the losses to trade 1.9% lower at R68.66.
The buying frenzy is likely to have raised Bidvest's stake in the drugmaker to about 30%.
This puts the conglomerate close to a 34.5% ownership target stated in a R4bn takeover offer launched in December.
This is a day after a source told Reuters that Bidvest had bought most of a record 39 million shares traded on that day.
Adcock fell as much as 2.11% before recouping some of the losses to trade 1.9% lower at R68.66.
The buying frenzy is likely to have raised Bidvest's stake in the drugmaker to about 30%.
This puts the conglomerate close to a 34.5% ownership target stated in a R4bn takeover offer launched in December.
