Laden...
Wesfarmers offers $1.38 per share for API.
Australian Pharmaceutical Industries (API) this morning confirmed receipt of an "unsolicited, non-binding, conditional indicative proposal" from Wesfarmers Limited to acquire 100% of the shares in API by way of a scheme of arrangement.
Washington H. Soul Pattinson and Company Limited already holds 19.3% of API, and has entered into an agreement with Wesfarmers to vote in favour of the takeover, in absence of any superior proposal.
The API Board said it had commenced an assessment of the offer, having this morning already announced the outcome of a strategic review which will see it cease manufacturing personal care and OTC products in NZ, while increasing the company's focus on its Pharmacy Distribution, Priceline Pharmacy and Clear Skincare divisions.Â
More in today's issue of Pharmacy Daily.Â
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
Laden...
Laden...
© 2024
