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Monday, December 19, 2005

Ruralco takeover on track.

Ruralco takeover on track. 20/12/2005. ABC News Online

A takeover by the New South Wales rural group Ruralco of the Tasmanian agribusiness Roberts Limited now seems more likely.

In June this year, Roberts pulled out of merger deal two weeks after an agreement was drawn up.

Last week Ruralco offered five of its shares for every eight Roberts shares and the offer appears more likely to succeed.

Ruralco has informed the Roberts chairman that his company's biggest shareholder, Neale Edwards Pty Ltd, supports the merger and intends to accept the Ruralco bid.

The Edwards Group has a 31 per cent share in Roberts.

Ruralco's chairman Richard England has previously said the two companies have a common interest in real estate, fertilisers, wool and livestock.

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