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Woolworths Makes $620m Offer for Priceline Owner API: The Age

Acquisition of pharmacy chain would see the prominent national retailer significantly expand its healthcare operations

A worker pushes shopping trolleys at a Woolworths store in Sydney. Photo: AFP.


Major Australian supermarket chain Woolworths has lobbed a surprise A$870 million (US$620 million) offer to acquire Priceline owner API, The Age reported, in a move that would see the national retailer significantly expand healthcare operations.

Woolworths announced to investors on Thursday morning that it had made an offer to acquire 100% of the shares in API at a price of A$1.75 a share, valuing the business at A$872 million.

Read the full report: The Age





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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.


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