Dec 14 (Reuters) - Drug distributor Australian Pharmaceutical Industries (API) (API) on Friday said it had offered about A$727 million ($524.9 million) to buy all of peer Sigma Healthcare Ltd (SIG) , of which it already owned nearly 13 percent.
The proposal equated to A$0.686 per Sigma share and API shareholders would own about 63 percent of the combined entity if the cash-and-stock deal succeeded, API said in a statement.
The terms of the proposal were made to Sigma's board on Oct. 11.
($1 = 1.3850 Australian dollars)
