Jan 23 (Reuters) - Australian Pharmaceutical Industries (API) (API) expects to sign a deal to commence due diligence in its takeover bid for Sigma Healthcare (SIG) , the drug distributor's chairman said on Wednesday.
In early December, API had offered to buy Sigma for A$727 million ($518.57 million), where shareholders of the pharmacy operator would receive 0.31 API shares and A$0.23 cash for each of their shares.
"We anticipate signing a non-disclosure agreement shortly that will then allow a due diligence process to commence," Chairman Mark Smith said. ($1 = 1.4019 Australian dollars)
