Viterra Bid Spells Agribusiness Consolidation

April 28 saw Canada's largest grain handler Viterra offer up to AUD1.64bn (US$1.16bn) to acquire Australia's largest barley exporter, ABB Grains, in a move that CFW expects to kick off a long-expected and arguably-overdue industry consolidation. ABB said that the offer (a mixture of cash, Viterra shares and dividends) was in the range of AUD9.00-9.50 a share, representing a 36% premium to ABB's April 27 close of AUD7.00. Viterra owns Canada's largest grain handling and agricultural products retailing operation, and boasts operations in the US, Japan, Singapore and Switzerland.

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