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
$7.70 |
Change
0.090(1.18%) |
Mkt cap ! $1.711B | |||
| Open | High | Low | Value | Volume |
| $7.61 | $7.73 | $7.60 | $5.232M | 683.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1273 | $7.68 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.72 | 1870 | 2 |
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| Last trade - 16.10pm 08/08/2025 (20 minute delay) ? |
| GNC (ASX) Chart |