AWB Board Recommends Agrium Proposal

Agribusiness firm AWB (Melbourne) says its board of directors has recommended that, in the absence of a superior proposal, the previously announced acquisition of AWB by Agrium at a price of A$1.50/share, is in the best interests of AWB shareholders and the shareholders vote in favor of the scheme with Agrium and a resolution to amend AWB’s 10% shareholding cap to permit the acquisition. Agrium entered into a definitive agreement with AWB last week to acquire all the shares of AWB, valuing the deal at A$1.23 billion ($1.1billion). The AWB board has...

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