May 19, 2009
Viterra formalised offer for ABB Grain expected this week
Canadian agribusiness Viterra Inc. and Australia's ABB Grain Ltd. are expected to announce that Viterra has formalized a A$1.6 billion (US$1.22 billion) offer for ABB, the Australian Financial Review reported in its Street Talk column Tuesday, without citing sources.
Investors can expect a formal offer later this week, the newspaper said, adding that the offer is expected to be between A$9.15 and A$9.20 a share.
Viterra's chief executive officer, Mayo Schmidt, is due in Adelaide Tuesday, and will also meet institutional investors in Sydney and Melbourne this week, the newspaper reported.
US$1 = AUD1.30 (May 19, 2009)
