June 16, 2021, 11:23

    Aussie food fight finish augurs more M&A battles

    Aussie food fight finish augurs more M&A battles

    Macquarie’s (MQG.AX) infrastructure and real assets division has triumphed in a bruising takeover battle. After lobbing 19 offers between them, rival private equity bidder Roc Partners has conceded defeat in its quest for Vitalharvest Freehold Trust (VTH.AX). The fight added 33% to the headline price for the owner of berry, citrus and avocado farmland. It’s unlikely to be this year’s only over-ripe M&A deal.

    Other battles are still underway. These include the A$8.4 billion ($6.5 billion) gamble for casino operator Crown Resorts (CWN.AX) and the A$4 billion chase for Tabcorp’s (TAH.AX) wagering and gaming unit .

    There’s a fair chance Vitalharvest won’t be the only agribusiness in play. Just a year after severe water shortages and bushfires, farmer confidence and demand for tractors are at or near years-long highs as commodity and livestock prices soar. Macquarie at least had some financial advantages read more in its A$357 million food fight with Roc. But potential buyers can’t plant those in every deal. (By Antony Currie)

    Sourse: reuters.com

    Related posts

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    We use cookies in order to give you the best possible experience on our website. By continuing to use this site, you agree to our use of cookies. You can find a detailed description in our Privacy Policy.
    Accept
    Reject
    Privacy Policy