Australia’s Wesfarmers Ltd said on Thursday it has bought 19.3per cent of the shares of Australian Pharmaceutical Industries Ltd, as part of a deal with API’s top shareholder in July to block rival Sigma Healthcare Ltd’s proposed offer.
Sigma made an offer for API last month, valuing the pharmaceutical company at AUS$773.5 million (US$562.72 million).
(US$1 = 1.3746 Australian dollars)
(Reporting by Indranil Sarkar in Bengaluru)
This article originally appeared on the CNA
Source link Author on date 2021-10-06 23:04:21