Australia's Sigma Pharma leaps 50% as it reveals it has an unnamed suitor; Invida takes control of Indonesia's MUGI

Australia's Sigma Pharmaceuticals has received a A$707 million ($579 million) takeover offer, sending the share of the troubled prescription drug and over-the-counter medicines maker soaring 50%. However, Sigma did not disclose the name of the bidder in the statement and advised shareholders to take no action.

The offer is at A$0.60 per share, a 71% premium to Thursday's closing, reported the Sidney Herald, and noting that Sigma's shares had tumbled to a record low of A$0.345 this week, down from A$.90 in February before it revised its earnings guidance.

Sigma has been plagued in the past month by the departure of its chairman, chief executive and chief financial officer. Chairman John Stocker on Thursday announced he would retire. Sigma's shares were suspended from trading for five weeks to March 31 as it reviewed its full-year guidance and made material writedowns on the goodwill of its generic drugs business. The company then reported a A$390 annual loss and its shares dropped 48% when they resumed trading. Sigma also said it had breached some borrowing covenants, but these had been waived and the facilities renegotiated, the newspaper noted.