Elders rejects ‘inadequate’ offer for rural services business

Tue, 18 Jun 2013

June 18 (BusinessDesk) – Elders, the ASX-listed agribusiness company, has rejected an offer from Ruralco Holdings for its rural services business, which includes a half stake in New Zealand’s Elders Rural Holdings. The Australian company put its Rural Services division up for sale last October. Its board reviewed various proposals for both the rural business and its Futuris Automotive unit over the weekend, it said in a statement to the ASX. “The Elders board has determined that the offer made is inadequate with respect to value, execution...

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