/ 15 February 1999

SA DRUGGISTS’ BIDDERS MUST WAIT

THE JSE Securities Regulation Code could effectively prevent life assurer Fedsure, pharmaceutical company Adcock Ingram and empowerment investment group Sekunjalo from making another offer for South African Druggists shares until next February. Business Report on Sunday reported that the code will also prevent them from making another bid — acting on their own, as a group or with other parties. The code prevents parties to a failed bid to try again for the same company until 12 months has passed. Fedsure, Adcock and Sekunjalo bid for SAD was recently rejected by the Competition Board. SAD has seen several potential suitors emerge in the last six months.