Sigma opens books to Aspen
May 31, 2010
Sigma Pharmaceuticals Limited (SIP) said it has opened its books to South African pharmaceutical manufacturer, Aspen Pharmacare, to conduct due diligence on the company as a part of its previously announced takeover offer.
On 21 May Aspen offered to buy Sigma at an indicative price of 60c cents a share, valuing the company at around $700 million.
Sigma said it had entered an exclusivity agreement over the next four weeks with Aspen, whereby no rival bids for the company would be considered and Sigma would not sell any assets that had not been previously announced.
At 1027 AEST, Sigma shares were trading up 1c at 51c each.
On 21 May Aspen offered to buy Sigma at an indicative price of 60c cents a share, valuing the company at around $700 million.
Sigma said it had entered an exclusivity agreement over the next four weeks with Aspen, whereby no rival bids for the company would be considered and Sigma would not sell any assets that had not been previously announced.
At 1027 AEST, Sigma shares were trading up 1c at 51c each.
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