Orica has announced on 22/7/02 that they are involved in talks with several companies including Pivot and Nufarm re merging with Incitec, their fertiliser business. Orica owns 76% of Incitec and 20% of Futuris. Pivot is a farmer co-op which has recorded a profit last financial year after a large loss in the previous period. It was reported in the Australian that speculation has also been increasing that Orica may make a takeover bid for Futuris as the share price declines. The share price of Orica has strengthened recently from $8.70 to $9.13 today.
Any comments on the effect on Oricas price re these developments? I have a property in the Riverina, most grain farmers have sown their crops but the next fortnight will be crucial regarding rainfall. If we receive little rain many crops will fail and there will be no urea(fertiliser) spread on growing wheat crops.The amount of fertiliser spread on pastures will also decrease as farmers will not have the cash flow to spend. I note that the AWB has revised wheat yields down 26%. I hold ORI,AWB and Pivot.
ORI Price at posting:
0.0¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)