SYDNEY, Nov 30 (Reuters) - Drug wholesaler and pharmacy group, Australian Pharmaceutical Industries Ltd. (ASX: API.ax) , denied a media report on Wednesday that it was in talks with retailer Woolworths Ltd. (ASX: WOW.ax) .
"API is not, and has not been in any discussions with Woolworths or its related parties regarding a takeover, merger or formal alliance between the two companies," API said in a statement.
API's shares had jumped as much as 9.5 percent in early trade after the Australian newspaper said Woolworths Chief Executive Roger Corbett was understood to have had a number of discussions with API's Jeff Sher, and could be trying to negotiate a friendly takeover.
"Suggestions made in the article that API Group Leader Jeff Sher has had discussions with Woolworth's Roger Corbett are absolutely incorrect. No discussions have ever occurred," API said.
API Price at posting:
0.0¢ Sentiment: None Disclosure: Held
