I wouldn't completely rule out an API & Sigma merger some time in the future, perhaps even likely.
The pharmacy/CSO market is highly competitive, margins are reducing, and the government is reducing money into the sector, so there are benefits for both API and Sigma.
An API & Sigma merger makes sense to me, with synergies and savings to be had for both companies.
I know at the moment, Mylan/Alphapharm are buying up all these smaller companies and adding products to their profile, just so they can keep growing.
EBOS is doing the same with many aquisitions.
Back during the GFC, the ACCC allowed Westpac to buy out St George, and Commonwealth Bank to buy out Bankwest. Extreme circumstances allowed a relaxing of the competition rules. The same could happen here.
I wouldn't completely rule out an API & Sigma merger some time...
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