Sept 27 (Reuters) - Sigma Healthcare (SIG) :
- SUBMITTED A CONDITIONAL NON-BINDING INDICATIVE PROPOSAL TO ACQUIRE 100% OF SHARES IN AUSTRALIAN PHARMACEUTICAL INDUSTRIES
- SIGMA INTENDS TO FUND CASH COMPONENT OF PROPOSAL THROUGH NEW DEBT
- PROPOSAL IMPLIES A VALUE OF A$1.57 PER API SHARE BEFORE SYNERGIES
- SIGMA HAS IDENTIFIED AT LEAST C.A$45M PER ANNUM OF POTENTIAL COST SYNERGIES TO BE AVAILABLE FROM COMBINATION OF COMPANIES
- PROPOSAL ALLOWS FOR PAYMENT OF FULLY FRANKED DIVIDENDS BY API OF UP TO A MAXIMUM OF A$0.05 PER SHARE
- EXPECTS MERGECO BALANCE SHEET WILL BE LEVERED AT LESS THAN 2.5X NET DEBT / EBITDA UPON IMPLEMENTATION OF PROPOSAL
- API HAS DECIDED TO GRANT SIGMA ACCESS TO ALLOW SIGMA TO UNDERTAKE CONFIRMATORY DUE DILIGENCE
- API DECIDED TO COMMENCE WORKING WITH SIGMA ON NEGOTIATING AND SIGNING BINDING TRANSACTION DOCUMENTATION
News: SIG Sigma Healthcare Submits An Indicative Proposal To Buy Australian Pharmaceutical...
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