API australian pharmaceutical industries limited

News: API Australian Pharmaceutical Industries offers to buy Sigma Healthcare

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    Dec 14 (Reuters) - Drug distributor Australian Pharmaceutical Industries (API) (API) on Friday said it had offered about A$727 million ($524.9 million) to buy all of peer Sigma Healthcare Ltd (SIG) , of which it already owned nearly 13 percent.

    The proposal equated to A$0.686 per Sigma share and API shareholders would own about 63 percent of the combined entity if the cash-and-stock deal succeeded, API said in a statement.

    The terms of the proposal were made to Sigma's board on Oct. 11.

    ($1 = 1.3850 Australian dollars)

 
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