Loading...
Woolworths moves to takeover API.
Supermarket giant, Woolworths, has made a non-binding indicative proposal to acquire 100% of the shares in pharmaceutical wholesaler, Australian Pharmaceutical Industries (API).
The offer comes little more than three weeks after retail rival, Wesfarmers, entered a Scheme Implementation Deed to purchase API (PD 08 November).
The indicative price under the Woolworths proposal is $1.75 per share less the cash amount of any fully franked dividend up to a maximum of 5 cents per API share, compared to the $1.55 per share offer from Wesfarmers.
In a statement to the Australian Securities Exchange (ASX) the API Board noted that the Woolworths bid âis reasonably capable of being valued, implemented and completed in accordance with its terms, and, if completed substantially in accordance with its terms, be more favourable to API shareholders as a whole than the Wesfarmers Schemeâ.
See todayâs edition of Pharmacy Daily for more.
This Pharmacy Daily breaking news is brought to you by JPH Group
To ensure you continue to receive email from Pharmacy Daily reliably please add info@pharmacydaily.com.au to your 'Safe Senders' list and set images to always display.
To forward this email to a friend click here. To receive your own copy of Pharmacy Daily sign up here.
To modify subscription details click here. To unsubscribe click here.
The Therapeutic Goods Advertising Code 2015 requires strict compliance. View the code here.
Pharmacy Daily - a division of Business Publishing Group
PO Box 1010 Epping NSW Australia 1710
Level 2, Suite 1 64 Talavera Rd Macquarie Park NSW 2113
Phone: 1300 799 220 ( 61 2 8007 6760)
Email: info@pharmacydaily.com.au
Loading...
Loading...
