HKMPF - GlaxoSmithKline rejects ACDIMA offer for its Egypt business

GlaxoSmithKline (GSK), the majority shareholder of GSK Egypt with 91% ownership, has rejected an acquisition offer for its assets in Egypt from Jordan-based, Arab Company for Drug Industries & Medical Appliances (ACDIMA).In February, GSK Egypt announced through a regulatory filing that the pan-Arab shareholding company has expressed its interest of making the acquisition.Last week, Hikma Pharmaceuticals (OTCPK:HKMPF) and GlaxoSmithKline S.A.E. (GSK SAE) officially ended the discussions for a deal where the former was set to acquire GSK’s assets in Egypt and Tunisia.

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GlaxoSmithKline rejects ACDIMA offer for its Egypt business