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Australian Pharmaceutical Industries Announces Conditional Proposal from Wesfarmers

12 Jul 2021  |  09:11:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Conditional proposal for API from Wesfarmers

Australian Pharmaceutical Industries announced that it has received an unsolicited, non-binding, conditional indicative proposal (the Indicative Proposal) from Wesfarmers to acquire 100% of the shares in the Company by way of a scheme of arrangement. The indicative price of $1.38 cash per share represents a premium of 18.7% to its VWAP for the 3 months prior to 9 July 2021 and a premium of 20.5% to its closing share price on 9 July 2021.

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