PGG Wrightson chairman withdraws Agria takeover offer

Tue, 12 Apr 2016

By Edwin Mitson April 12 (BusinessDesk) - The NZX-listed rural and farmer services company, PGG Wrightson, says its chairman has withdrawn his takeover bid for the New York-listed agricultural company, Agria Corporation. Guanglin "Alan" Lai made his offer to shareholders in January. Agria indirectly controls 50.22 percent of shares in PGG Wrightson through Agria (Singapore) Limited. As well as being the chairman of PGG Wrightson, Lai is also the executive chairman of Agria. He offered a premium of 14.3 percent to the Agria share pric...

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