Woolies blocks Wesfarmers’ plans for API with $872 million bid
Inside Retail
DECEMBER 1, 2021
Woolworths Group has put forward its own non-binding bid to acquire Australian Pharmaceutical Industries at a cash price of $1.75 per security – a 20c per share premium on Wesfarmers’ $1.55 per security offer. According to Woolworths, API’s board has determined their proposal is likely to be superior to Wesfarmers’, and it is working to “quickly” finalise its due diligence enquiries.
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