By Laurel Henning ( January 7, 2022, 02:03 GMT | Insight) -- Australian supermarket operator Woolworths Group has withdrawn its non-binding proposal to acquire Australian Pharmaceutical Industries, a pharmaceutical-distribution and beauty-products company that operates the Priceline retail business. In an announcement to the Australian Securities Exchange today, API said the offer had been withdrawn, as a rival acquisition offer from Wesfarmers is set to complete in the first quarter of 2022. Australia’s competition watchdog updated its public informal merger register today following the announcement, having monitored the bid since early December. The regulator’s review of Wesfarmers’ bid for API continues.Australian supermarket operator Woolworths Group has withdrawn its non-binding proposal to acquire Australian Pharmaceutical Industries, or API, a pharmaceutical-distribution and beauty-products company that operates the Priceline retail business....
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