Dec 2 (Reuters) - Australian Pharmaceutical Industries Ltd (API) :
- RECEIVED A NON-BINDING INDICATIVE PROPOSAL FROM WOOLWORTHS LIMITED
- WOOLWORTHS STATED IT IS ALSO WILLING TO EXPLORE ALTERNATIVE CONTROL TRANSACTION STRUCTURES
- PROPOSAL FOR CASH PRICE OF A$1.75 PER API SHARE
- BOARD HAS DETERMINED TO ALLOW WOOLWORTHS TO UNDERTAKE CONFIRMATORY DUE DILIGENCE TO FACILITATE A BINDING OFFER
- AT THIS STAGE, API SHAREHOLDERS DO NOT NEED TO TAKE ANY ACTION IN RELATION TO THE INDICATIVE PROPOSAL
- WOOLWORTHS PROPOSAL IS, OR IS REASONABLY LIKELY TO BE, A SUPERIOR PROPOSAL AS DEFINED IN WESFARMERS SID
Dec 2 (Reuters) - Australian Pharmaceutical Industries Ltd...
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