Stocks of the Hour: Ampol, Sigma Healthcare & Synlait Milk

Company News

by Lauren Evans

Ampol (ASX:ALD) has been given another 2 weeks to settle its take-over deal with Z Energy (ASX:ZEL). The petroleum giant announced that its 4 week due dilligence period to acquire all shares in Z energy has been extended to address outstanding matters. Shares in Ampol (ASX:ALD) are trading 0.7 per cent higher at $27.87.

Pharmacy wholesaler’s Sigma Healthcare (ASX:SIG) and Australian Pharmaceutical Industries (ASX:API) are in talks about a potential merger, weeks after Wesfarmers (ASX:WES) proposed a take-over bid to API. Sigma has submitted a non-binding offer to acquire all shares in API and has been granted due diligence to negotiate a binding transaction. Shares in Sigma Healthcare (ASX:SIG) are trading 1.3 per cent higher at $0.60.

NZ milk powder maker Synlait Milk (ASX:SM1) faced its most challenging year yet after profits fell more than 100 per cent as the Covid-19 pandemic hit. Net profit after tax reached $28.5 million for the year ending 31 July 2021 (FY21), down 138 per cent from the prior year. Shares in Synlait Milk (ASX:SM1) are trading 6.2 per cent higher at $3.42.

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