/ 10 February 1999

BIDDERS WOO SA DRUGGISTS

POTENTIAL bidders continue to woo SA Druggists as the likelihood of Texas company Argyll Scientific making a serious bid for the company appears to be diminishing. Black empowerment group Macmed and two pharmaceutical companies are believed to be negotiating with Fedsure, SAD’s largest shareholder. Fedsure’s proposal to buy 100% of SAD and sell Pharmacare to Adcock Ingram were rejected earlier by the Competition Board.