All-Australian consortium leads bidding for Kidman
25/10/2016
The BBHO consortium includes the Brinkworth, Butine, Harris and Oldfield families. If the bid is accepted, it would create one of the world’s largest cattle businesses.
The offer is valued at A$386 million ($293 million), meaning it exceeds the bid made earlier this month by mineral extraction company Hancock Prospecting and Chinese business Shanghai CRED. Although this bid has already been accepted, the company’s board is required to consider any higher offers.
The all-Australian bid is likely to be welcomed by the Australian government, who have previously blocked Chinese-led attempts to purchase Kidman due to concerns that selling to foreign investors is not in the national interest.
Share this story:
