abb viterra

[malleefarmer]

SHAREHOLDERS in grains marketer and malt supplier ABB Grain have voted in favour of a $1.6 billion proposal by Canada's Viterra to acquire ABB.

Grain shareholders held two meetings in Adelaide today.

The first was to consider the scheme of arrangement to facilitate the proposed combination of ABB Grain and Viterra, and the second to amend ABB's constitution to remove a 15 per cent limit on the amount of shares that any one shareholder can hold, to enable the scheme to proceed.

"All resolutions were passed by majorities comfortably exceeding the required thresholds,'' AAB said in a statement to the Australian Securities Exchange.

ABB Grain will attend a hearing of the Federal Court on September 10, 2009 to request that the court approve the scheme.

If approval is granted, the scheme of arrangement is scheduled to be implemented on September 23

[parsley]

Congratulations.

[DogPatch]

I guess Viterra is going to spend all their profits from Canadian operations to setup competition for Canadian grains in another part of the world. No figure.........

[SASKFARMER3]

I heard Mayo on Radio today doing a interview he said that Australia is on verge of producing its largest crop ever. So the dryer conditions haven't hurt the crop or is it mayo being mayo with lots of smoke and mirrors.

[agstar77]

Buy low sell high, what else has changed for grain companies? Would you want him to say they have a poor crop? That would drive up prices.

[LWeber]

What is worse - a buy low - sell low practice employed by your beloved Agstar. Does it feel better getting screwed by yourself?

[highwayman]

How about this agstar. Lets send a letter of thanks and approval to your beloved CWB for helping us carry forward 35% of durum stocks into a declining market. BRILLIANT!!!!