May 19, 2011
GrainCorp responds to rumours regarding its takeover
Grains handler and marketer GrainCorp Ltd has neither admitted nor refuted that it is the subject of acquisition interest.
The media reported yesterday (May 18) that GrainCorp was thought to be working with Credit Suisse amid interest from offshore rivals, and nominated Canadian group Viterra as a logical acquirer of GrainCorp.
"GrainCorp is cognisant of its continuous disclosure obligations and has no information to convey to the market," the company said.
"Beyond this statement, GrainCorp does not comment on media speculation."
Shares in GrainCorp were AUD0.37 (US$0.40), or 4.84%, higher at AUD8.01 (US$8.55) yesterday (May 18).
