Australia's Wesfarmers acquires 19% API shares to block Sigma's proposed offer

Australia's Wesfarmers acquires 19% API shares to block Sigma's proposed offer

Sydney Opera House, Sydney, Australia. Photo by Frans on Unsplash

Australian retail conglomerate Wesfarmers Ltd said on Thursday it bought a 19.3% stake in Australian Pharmaceutical Industries Ltd (API), in an attempt to block Sigma Healthcare Ltd’s rival proposed offer.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter