Sigma offers $422M for Australian Pharmaceutical

In a bid to become Australia's largest drug wholesaler, Sigma Pharmaceuticals has offered $422 million for Australian Pharmaceutical Industries. If successful, the buyout bid would create a company that controls two thirds of the Australian market. Sigma's bid will depend on regulatory approval, and may hinge on Deutsche Post's entry into the market, which creates a new competitor in the field.

- here's the article on the buyout bid from the International Herald Tribune

PLUS: GlaxoSmithKline is buying CNS for $566 million, marking its entry into the consumer health products arena. CNS makes Breathe Right nasal strips. Report