Australia's retail firm Wesfarmers eyes pharmacy sector with $509m API bid

Australia's retail firm Wesfarmers eyes pharmacy sector with $509m API bid

Sydney Opera House, Sydney, Australia. Photo by Frans on Unsplash

Australian retail conglomerate Wesfarmers Ltd on Monday lobbed a A$680 million ($509 million) indicative bid for pharmacy chain Australian Pharmaceutical Industries (API), its first foray into the sector.