SIP sigma pharmaceuticals limited
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News: Sigma negotiates takeover with Aspen

  1. FNN News
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    13/07/10
    19:09
    Post #: 6898731
    .

    Sigma Pharmaceuticals (ASX:SIP) says it will continue to work with Aspen Pharmacare Holdings Ltd on improving Aspen's bid to takeover Sigma.

    On July 7 Sigma announced it had received a conditional proposal from Aspen that puts the price per Sigma share at $0.55.

    The company has recommended that shareholders take no action at this stage.

    Sigma says the proposal is currently highly conditional and wishes to negotiate terms with Aspen before a decision is made.

    No extension to the previous exclusivity period, which has now expired, has been granted.

    Sigma Pharmaceuticals reported a net loss of $389 million for the year ending 30 January 2010.
    SIP Price at posting: 47.5¢ Sentiment: None Disclosure: Held
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