API 0.00% $1.53 australian pharmaceutical industries limited

Ann: Revised Non-Binding Indicative Proposal from Wesfarmers, page-9

  1. 247 Posts.
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    given API board supports the latest bid and only stopper is "due diligence".

    appears todays market price of 1.48 vs 1.55 has a very high spread for Due diligence.

    looks like an easy couple of % profit to buy at 1.48 ....am I missing something?
 
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