Australian wheat exporter AWB (AWB.AX) could become the centre of a bidding war after a shock A$856 million bid from GrainCorp (GNC.AX). AWB last week agreed to be consumed by GrainCorp rather than break up its monopoly and sell part of its business to United States-based Gavilon. AWB managing director Gordon Davis said the company received interest from several parties after allowing an exclusivity clause on its negotiations with Gavilon to lapse. GrainCorp's bid for AWB will create Australia's biggest diversified agricultural company. Page 16.
AWB Price at posting:
$1.03 Sentiment: Buy Disclosure: Held
