Question: 2. (i) Wesfarmers Ltd (ASX Code: WES) recently made a $687m Takeover Bid for Australian Pharmaceutical Industries (ASX Code: API) and the bid was rejected

2. (i) Wesfarmers Ltd (ASX Code: WES) recently made a $687m Takeover Bid for Australian Pharmaceutical Industries (ASX Code: API) and the bid was rejected by the API board. What tactic was Wesfarmers following in making this bid? Discuss the downsides to the tactic Wesfarmers was following. (1 + 4 marks) (ii) In your own words, discuss the key elements of Porters Competitive Strategy Framework. (3 marks)

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