News: API Australian Pharmaceutical Industries Got Proposal From Sigma Healthcare To Acquire API

Sept 27 (Reuters) - Australian Pharmaceutical Industries Ltd (API) :

• GOT AN UNSOLICITED, INDICATIVE, NON-BINDING AND CONDITIONAL PROPOSAL FROM SIGMA HEALTHCARE LIMITED
• PROPOSAL TO ACQUIRE 100% OF SHARES IN API FOR A COMBINATION OF CASH AND SCRIP
• API SHAREHOLDERS WOULD RECEIVE A$0.35 IN CASH AND 2.05 SIGMA SHARES FOR EACH API SHARE
• DEAL IMPLIES A VALUE OF A$1.57 PER API SHARE BASED ON SIGMA'S CLOSING PRICE OF A$0.595 PER SHARE ON 24 SEPT
• API SHAREHOLDERS WILL OWN ABOUT 48.8% OF SHARES IN COMBINED COMPANY