SYDNEY: Australian Pharmaceutical Industries on Monday said it has received an unsolicited, non-binding buyout proposal from retail conglomerate Wesfarmers that values the pharmacy chain operator at A$679.9 mln ($508.9 mln).
Under the offer, shareholders of the pharmaceutical firm would get A$1.38 apiece, a premium of 20.5% to API's last close of A$1.145 on Friday.
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