API australian pharmaceutical industries limited
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News: API Australia's Wesfarmers buys 19% API shares to block Sigma's proposed offer

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    07/10/21
    09:50
    Post #: 56622944

    Oct 7 (Reuters) - Australia's Wesfarmers Ltd (WES) said on Thursday it has bought 19.3% of the shares of Australian Pharmaceutical Industries Ltd (API) , as part of a deal with API's top shareholder in July to block rival Sigma Healthcare Ltd's (SIG) proposed offer.

    Sigma made an offer for API last month, valuing the pharmaceutical company at A$773.5 million ($562.72 million).

    ($1 = 1.3746 Australian dollars)

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