Australia's FIRB clears Viterra's A$1.6 billion bid for ABB

ABB Grain Ltd. said Friday (June 19) the Foreign Investment Review Board has cleared the A$1.6 billion takeover of the Australian grain exporter by Canada's Viterra Inc.

"The transaction remains subject to other regulatory, shareholder and court approvals, as well as other conditions," ABB and Viterra said in a joint statement.