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API - AUSTRALIAN PHARMACEUTICAL INDUSTRIES LIMITED


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In reply to: sniffer on Thursday 28/09/06 09:10am

API posts have gone cold but action behind the scenes has not over last few months. Lot of volume moving with price moving sideways. Deals are being done since share price dropped after Sigma withdrew their bid.

 

Significant Shareholders have been building substantial positions...

 

Inevitable consolidation in this industry has to and is about to happen - expect announcement by suitor with allies and API Board within the month.

 

Anyone no anything more?

 

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In reply to: trebor on Tuesday 03/04/07 11:46am

From another forum for your information.

 

RETAIL magnate Solomon Lew has quietly accumulated a strategic stake in Australian Pharmaceutical Industries, lending a further twist to the impending shake-up of the drug distribution sector.

Mr Lew is understood to have bought around 10 million shares in API, or 4 per cent of the company, over recent weeks - before the sale of his stake in Coles to the Wesfarmers bidding consortium on Monday evening.

 

A spokesman for API told The Australian last night he had heard the Lew rumour but had no comment. Mr Lew's spokesman was unavailable for comment.

 

Market sources said last night Mr Lew's interest in API was more likely to be in anticipation of another bid from the likes of Sigma Pharmaceuticals rather than a precursor to a full takeover bid from Mr Lew himself.

 

Rival pharmaceutical distributor Sigma pitched an offer of $2.50 a share to API last year but pulled it when API released an earnings downgrade. It subsequently came back with $2.20 a share, which was dismissed by API's major shareholders, in particular, Washington H Soul Pattinson & Co.

 

Although SoulPats, which owns 22 per cent of API, knocked back last year's approach from Sigma, chairman Robert Millner said only last week that he would respond more favourably to a new offer.

 

"It's a very difficult business, the pharmaceuticals business, a very low-margin business, and on top of that you've got the Government screwing you on the top with the PBS (Pharmaceutical Benefits Scheme). And you've got your natural increases in wages and fuel costs and things like that."

 

The other two major institutional holders are Harris Associates and Schroders. Between them the top three on the API register have 35 per cent. Well-known criminal lawyer and investor Chris Murphy bought in when API was on its knees last year and owns around 8 per cent. Much of the selling has come recently from merchant bank Investec.

 

API had its annus horribilis last year following the aborted takeovers from Sigma, the revelation of a $17 million black hole in its accounts (put down to a computer problem), the exit of its CEO, two earnings downgrades and abnormal losses of $24 million.

 

 

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From Egoli

 

In response to media speculation, Australian Pharmaceutical Industries Limited (API) today said its major shareholder, Washington H Soul Pattinson & Company Limited (SOL), had received a number of approaches but is not marketing its shareholding in API and has had no firm offers for its holding from any third parties. The Australian Financial Review reported Friday that Soul Pattinson had offered its entire 19.9% stake to a number of healthcare companies, investors and private equity firms but no buyers had shown interest in the price around $2.30 a share. The report did not cite sources.

 

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QUOTE (twistventriloquist @ Saturday 11/10/08 05:02pm)

If it opens above 47 and doesn't drop back, my chart suggests a cautious start may be rewarded; it's also in the right sector.

Please note, this is solely based on my particular T/A assessment. I haven't checked any fundamentals.

post-16-1223720324.gif

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watch out API investors...


APPOINTMENT OF CFO

Australian Pharmaceutical Industries Limited (ASX Code: API) today announced that Mr Graeme Fallet will join the company as its Chief Financial Officer, succeeding Ashley Killick who will leave the business for personal reasons.

Mr Fallet will join API on 7 September 2009. During a short transitional period, Mr Killick will oversee the completion of the companyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s 2009 annual accounts.

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“I am pleased that we have found such an experienced finance executive in Graeme to succeed Ashley. To be an effective manager in this sector requires considerable experience and specialist expertise.ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ Mr Roche said.

Mr FalletÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s immediate past role was as Chief Financial Officer of listed company Ventracor Limited.




Said 'Thanks' for this post: <A style="COLOR: #666666" href="http://www.sharescene.com/index.php?showuser=13450">Tinkerbell
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