Sigma Healthcare (SIG) 60.5c

SIG +1.68%: the pharmaceutical wholesaler re-joined the running to take out Priceline owner Australian Pharmaceutical Industries (API) today in a battle that’s now spanned 3 years. Wesfarmers had thrown a bid in for API only a few months ago at $1.55/sh cash, in a deal that looked all but wrapped up before Sigma’s moves today. They have offered 2.05 shares in SIG along with 35c cash for API shareholders, worth $1.57/sh prior to today’s session. API has engaged Sigma now in a move that would like mean Wesfarmers would have to bump up their offer to have a chance. The merged Sigma/API would likely come up with $45m/yr in cost synergies with API holders owning 48.8% of the business.

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Sigma Healthcare (SIG)

LAST UPDATED 27/09/2021 17:16

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Sigma Healthcare (SIG)

LAST UPDATED 27/09/2021 17:16