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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.
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