Inghams is already a vertically integrated producer. It does not need the feed capacity of Ridley in the locations of Ridley's millls. It would also have severe competition implications and there would be a good chance for such a deal not to be approved. Ridley is currently supplying feed to many of Inghams competitor.
Graincorp would be stepping outside its core business to snap up something like Ridley. I don't see the clear synergy benefits.
Regarding it's 3 year old pricing. That is irrelevant. Today's pricing is based on current and future expected earnings. $1.50 was overvalued then and would likely be on the optimistic end of valuations now.
Ann: FY21 Results Investor Presentation, page-7
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Last
$2.49 |
Change
-0.040(1.58%) |
Mkt cap ! $786.4M | |||
| Open | High | Low | Value | Volume |
| $2.49 | $2.51 | $2.48 | $411.3K | 165.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 3704 | $2.48 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.50 | 360 | 1 |
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| Last trade - 16.10pm 08/10/2024 (20 minute delay) ? |
| RIC (ASX) Chart |