CM – Wesfarmers (ASX: WES) locks target on Australian Pharmaceutical (ASX: API)

0

Australian Pharmaceutical Industries Ltd (ASX: API) share price rose today after pharmacy distributor entered into Scheme of Implementation Deed with Wesfarmers Ltd (ASX: WES).

API share price is down at 2 .69% up to $ 1.52. Meanwhile, Wesfarmers’ share price has fallen 0.48% to $ 60.04

A Scheme of Implementation Deed (SID) is an agreement between the bidder and the target company that provides essential conditions for the bidder to acquire all of the shares in the Target company.

The offer of USD 1.55 in cash per share values ​​API at USD 763.6 million and was unanimously recommended by the API Board of Directors.

The registration of the SID is the result of the April 16 Due diligence announced by Wesfarmers on September 30th.

Then Wesfarmers bought 19.3% of the shares in API to fend off a competing offer from Sigma Healthcare Ltd (ASX: SIG).

Current API shareholders are entitled to 1, USD 55 per share minus fully franked dividends up to a maximum of 5 cents per share.

API has already announced a final dividend of 2 cents per share. Therefore, at this point in time, shareholders would receive the dividend of 2 cents per share and $ 1.53 per share from Wesfarmers.

« Wesfarmers continues to see opportunities to invest in and strengthen the competitive position of API and its pharmacy partners, by expanding the assortment, improving supply chain capabilities and improving the online customer experience. ”

Each API director intends to vote for the deal if there is no better deal and an independent expert works out the best plan Final interest of shareholders.

However, since Wesfarmers is the largest shareholder, Sigma’s small chance of winning has been eliminated in addition to his pure cash offer.

As a result, the API Board recommended Wesfarmers’ offer. It looks like the deal is largely closed and API will be consolidated into Wesfarmers next year.

To keep up to date with the latest news on API, Wesfarmers and ASX, be sure to check out the Rask Media home page bookmarked.

Are you wondering where to invest right now? Do you have cash that is “on the sidelines”? Are you looking for dividend income AND growth but not sure where to start? Rask’s seasoned ASX analyst team just released a full report detailing where we would be investing $ 10,000 right now. Not only are we offering these 11 investment ideas completely FREE, but we have also published a detailed podcast on the report!
Whether you have $ 2,000 or $ 50,000, our brand new analyst report could help transform your watchlist. You can now email the full analyst report for FREE by CLICKING HERE NOW or by simply entering your email address below.

Unsubscribe anytime. Read our Terms of Use, Financial Services Guide, and Privacy Policy. We will never sell your email address. Our company is Australian owned.

Are you wondering where to invest right now? Do you have cash that is “on the sidelines”? Are you looking for dividend income AND growth but not sure where to start? Rask’s seasoned ASX analyst team just released a full report detailing where we would be investing $ 10,000 right now. Not only are we offering these 11 investment ideas completely FREE, but we have also published a detailed podcast on the report!
Whether you have $ 2,000 or $ 50,000, our brand new analyst report could help transform your watchlist. Now you can have the full analyst report emailed to you for FREE by CLICKING HERE NOW.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) and is limited to factual information or (at most) general financial advice. This means that the information and advice does not take into account your goals, financial situation or needs. It is not specific to you, your needs, goals, or objectives. For this reason, you should check that the advice is suitable for you and your needs before reacting to the information. If you do not know your needs, you should turn to a trusted and licensed financial advisor who can advise you personally on financial products. In addition, you should obtain and read the Product Disclosure Statement (PDS) before deciding to purchase a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is an authorized corporate agent (# 1280930) of AFSL # 383169.

Australian Pharmaceutical Industries Ltd (ASX: API) is due to acquire Wesfarmers Ltd (ASX: WES) upon signing an implementation plan.

The Commonwealth Bank of Australia (ASX: CBA) Stock Price Watched After Artificial Intelligence (AI) Partnership Announced.

NIB Holdings Limited (ASX: NHF) stock price rises after an acquisition announcement in New Zealand in the spotlight.

National Australia Bank Ltd (ASX: NAB) shares are up 26% year-to-date. Is the NAB share price the top?

The information on this website is for general financial advice only. This means that the advice does not take into account your goals, your financial situation or your needs. For this reason, you should check that the advice is suitable for you and your needs before reacting to the information. In addition, you should obtain and read the Product Disclosure Statement (PDS) before deciding to purchase a financial product. If you do not know your needs, you should turn to a trusted and licensed financial advisor who can advise you personally on financial products. Please read our & Terms and Conditions and Financial Services Guide before using this website.

Rask Australia’s expert analysts have just published 11 & ETF stock positions that they would now buy as part of a hypothetical $ 10,000 portfolio .

This completely free report contains the exact ticker codes of how much the analysts would invest and a detailed description of the company and why we like it. Plus a 60-minute podcast!

Unsubscribe at any time. Read our Terms of Use, Financial Services Guide, and Privacy Policy. We will never sell your email address. Our company is Australian owned.

Keywords:

Wesfarmers,Australian Pharmaceutical Industries,ASX,Application programming interface,Priceline (Australia),ASX:WES,Takeover,ASX:API,Wesfarmers, Australian Pharmaceutical Industries, ASX, Application programming interface, Priceline (Australia), ASX:WES, Takeover, ASX:API,,,Business,Health,Business,Markets,Business,Mergers and Acquisitions,,,,,,,,

Donnez votre avis et abonnez-vous pour plus d’infos

Vidéo du jour: