Here is one speculative screnario which is quite plausible in the current climate:
Graincorp loses out on the AWB bid. It has signalled it's intention to aquire business. It goes for ELD as a second choice to AWB. It would need to sell off all the ELD bits that don't fit.
Problem is that the new speculative buyers want cash and Graincorp is likely to offer shares?
merrils still buying....for who?, page-3
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