Dec 19 (Reuters) - Australia's GrainCorp Ltd (GNC) on Wednesday said it was providing suitor Long-Term Asset Partners Pty (LTAP) due diligence to put forward a more certain proposal.
The country's largest listed bulk grain handler earlier this month received a buyout proposal from asset manager LTAP in an all-cash deal for A$2.38 billion ($1.76 billion) or $10.42 per share.
"LTAP proposal at this stage is not sufficiently certain or in a form which would allow the Board to make a recommendation to shareholders," said GrainCorp Chairman Graham Bradley in a letter to the shareholders of the company.
GrainCorp also sought additional information from LTAP on its longer-term financing plan and intentions.
News: GNC Australia's GrainCorp provides suitor LTAP due diligence for better offer
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Last
$8.84 |
Change
0.140(1.61%) |
Mkt cap ! $1.968B | |||
| Open | High | Low | Value | Volume |
| $8.70 | $8.86 | $8.67 | $2.832M | 322.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 30 | 3546 | $8.83 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.84 | 3590 | 16 |
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| Last trade - 13.04pm 16/09/2025 (20 minute delay) ? |
| GNC (ASX) Chart |