市场见解

API (ASX:API) share price higher after accepting Wesfarmers takeover offer

API is being acquired…
The post API (ASX:API) share price higher after accepting Wesfarmers takeover offer appeared first on The Motley Fool Australia. –

The Australian Pharmaceutical Industries Ltd (ASX: API) share price is starting the week on a positive note.

In morning trade, the pharmacy chain operator and distributor’s shares are up 3% to $1.53.

Why is the API share price rising today?

Investors have been bidding the API share price higher today after it provided an update on the Wesfarmers Ltd (ASX: WES) takeover proposal.

According to the release, API has accepted a $1.55 cash per share offer from Wesfarmers to acquire 100% of the shares it does not already own via a scheme of arrangement. This will be reduced by any dividends that API pays between now and closing.

This offer represents a 35.4% premium to the undisturbed closing API share price on 9 July 2021 (prior to Wesfarmers’ first offer of $1.38 per share).

What’s the latest?

The API Board is unanimously recommending that shareholders vote in favour of the scheme. This is in the absence of a superior proposal and subject to the independent expert’s report.

Each director intends to vote all of the API shares held or controlled by them in favour of the deal.

Though, the release highlights that there are a few customary conditions that require satisfying before the deal completes. These include API shareholder approval, court approval, ACCC approval, no material adverse change, and no prescribed occurrences. Two things the deal is not subject to are due diligence and financing.

A scheme meeting of API shareholders is expected to be held in the first quarter of calendar year 2022. If approved, the scheme will then be implemented shortly after and API will form the basis of a new healthcare division of Wesfarmers.

Following today’s gain, the API share price has now climbed 21% since the start of the year.

The post API (ASX:API) share price higher after accepting Wesfarmers takeover offer appeared first on The Motley Fool Australia.

Should you invest $1,000 in API right now?

Before you consider API, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and API wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Wesfarmers (ASX:WES) share price rises on API takeover deal

Wesfarmers (ASX:WES) share price lifts as rival drops out of race for API

2 top ASX 200 shares that might be buys today

Why did the Wesfarmers (ASX:WES) share price have such a great month in October?

What were the best performing ASX real estate shares to hold in October?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

随时随地,交易世界!

移动APP平台,拥有 12 个市场的 50,000 多种全球上市证券(全球市值超过 70%),直接在您的 Android 或 iOS 设备上即可操作。

与独有的交易理念和投资分析工具相结合,帮助您在我们 12 个全球市场中的几乎所有金融工具上找到可操作的见解,从而帮助您优化交易策略。

推荐给您的朋友

向您的朋友推荐Monex并赠予他们免费使用我们交易工具的机会

我们尊重您的隐私,只会向您的朋友发送一封邮件 

与您的朋友分享

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!