Rathbone has dillied and dallied. Better ag stocks to own out there to this underperformer!
----------------------------------------------- Chinese bid for Nufarm opposed
December 18, 2009
NATIONALS Senate leader Barnaby Joyce continues to oppose the takeover of agri-chemical giant Nufarm by the Chinese Government.
Senator Joyce argues the influence Australia's biggest agri-chemical company had on the nation's capacity to feed the country made it a key asset.
It is estimated that Nufarm has a 40 per cent share of the Australian market.
Opposition to the bid also comes from Liberal Party quarters.
Liberal Senator Bill Heffernan said that during last year's fertiliser crisis, China had placed a 150 per cent tariff on fertiliser it exported, indicating its interests clearly came first.
In his speech to the Lowy Institute on May 1, then Opposition leader Malcolm Turnbull also expressed concerns about foreign state-owned entities owning key Australian assets.
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