API australian pharmaceutical industries limited
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News: API Australian Pharmaceutical Industries declines Wesfarmers' $501 mln offer

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    29/07/21
    08:55
    Post #: 54855863

    July 29 (Reuters) - Australian Pharmaceutical Industries (API) on Thursday declined a A$680 million ($501.43 million) indicative bid from retail conglomerate Wesfarmers (WES) , saying it was opportunistic and undervalued the pharmacy chain.

    "The board will only progress a change of control transaction on terms that recognise the fundamental value of API and are in the best interests of API shareholders as a whole," Australian Pharmaceutical Industries said in an exchange filing.

    ($1 = 1.3561 Australian dollars)

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