Stocks of the hour: Wesfarmers, A2 Milk & NRW

Wesfarmers (ASX:WES) has announced it has submitted a non-binding offer to acquire 100 per cent of the shares outstanding in Australian Pharmaceutical Industries (API) for $1.38 per share. The proposal price corresponds to a total equity value of around $687 million. Shares in Wesfarmers (ASX:WES) are trading 0.2 per cent higher at $58.11.

The A2 Milk Company (ASX:A2M) has announced the appointment of two new members to the executive leadership team, following the recent resignation of Peter Nathan. Yohan Senaratne will join as executive general manager international whilst Kevin Bush will join as Executive General Manager for Australia & New Zealand. Shares in The A2 Milk Company (ASX:A2M) are trading 0.97 per cent lower at $7.13.

Australian civil construction and mining company, NRW (ASX:NWH) has advised that Boggabri Coal Operations (BCO) has exercised an option to acquire majority of the major mining equipment of Golding Contractors. The agreement will see the sale of 38 major mobile mining assets from Golding to BCO. Shares in NRW Holdings (ASX:NWH) are trading 11 per cent higher at $1.72.

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Source: Finance News Network