Wesfarmers’ $687 million offer for Australian Pharmaceutical Industries might have come as a shock to the pharmacy group’s shareholders but would not have surprised long-term observers of the Perth-based conglomerate.
The $1.38 a share cash offer was classic Wesfarmers modus operandi.
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Sue Mitchell writes the fortnightly Window Shopping column for the Financial Review and has covered retailing for over 30 years. Connect with Sue on Twitter. Email Sue at smitchell2045@gmail.com
Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
