Australian Pharmaceutical Industries, a health and beauty company in Australia that is involved in pharmaceutical distribution, retailing and manufacturing, offered to acquire Sigma Health Care, a full line wholesale and distribution business to pharmacy, for A$727m. "API Board believes a merger is the best opportunity to deliver significant benefits to both groups of shareholders, pharmacists and customers. API is seeking to work cooperatively with the Sigma Board to create more value for all stakeholders," Mark Smith, API Chairman.