News 
 National Rural News 
 Agribusiness and General 
 Finance 
 Sharemarket approves of Viterra takeover of ABB 

Sharemarket approves of Viterra takeover of ABB

14 Sep, 2009 09:01 PM
Shares in ABB Grain rose for the third consecutive day as analysts endorsed Canadian company Viterra's $1.6 billion bid for the company.

A healthy 84 per cent of ABB's shareholders voted in favour of the link, which is expected to give the new company access to the world's largest export markets for wheat, canola and barley.

The Australian Financial Review reports that Viterra chief executive Mayo Schmidt said there were no imminent plans for further purchases.

"We don't have any intention of moving on anything quickly," he said. "We will have continued interest in Australia, but nothing specific at this time."

But UBS suggested rural services was now the only gap in ABB and Viterra's combined footprint in Australia, with the broker saying a restructured Elders Rural Services of AWB's Landmark division would be a good fit at the right price.

Print
Increase Text Size
Decrease Text Size

comments


No comments yet. Be the first to comment below.

post a comment


Screen name  *
Email address  *
Remember me?
Comment  *
 
We invite and encourage our readers to post comments. Comments are moderated and will appear as soon as our editor has approved them. When posting comments you agree to be bound by our Terms and Conditions.
Mayo Schmidt
Mayo Schmidt
Related Coverage
ARTICLES
MULTIMEDIA
14 September, 2009
13 September, 2009
11 September, 2009
POLL
Q: If a federal election were held this weekend, for which party would you vote?

Labor
(13%)

Liberal
(30.8%)

Nationals
(35.4%)

Greens
(8.1%)

Family First
(1.6%)

Independent
(8.6%)

Other
(2.6%)

Total Votes: 1073
Poll Date: 13 September, 2009

Most popular articles

Advertisement



Queensland Country Life







Weather brought to you by:

Weatherzone

Classifieds

Front Page

Current Issue
Privacy Policy | Conditions of Use | Advertising Terms | Copyright © 2012. Fairfax Media.
 SEND...
 SAVE...
 SHARE...