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Woolworths Group Withdraws Non-Binding Proposal to API

07 Jan 2022  |  09:38:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Woolworths Group withdraws non-binding proposal to API

Woolworths Group announced that it refers to its previous announcement on 2 December 2021 regarding its non-binding proposal to acquire 100% of the shares in Australian Pharmaceutical Industries (API) at a cash offer price of $1.75 per share. Following the completion of a comprehensive due diligence process, it has advised API that it has withdrawn its proposal as it has not been able to validate the financial returns it requires in line with the Group's capital allocation framework.

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