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December 17, 2008

 

ABB Grain, AWB end merger discussions

 

 

Talks between Australian agribusinesses ABB Grain Ltd. and AWB Ltd. about a possible merger has been abandoned for now, the companies said Wednesday (December 17).

 

"The parties were unable to agree to commercial terms that would have been beneficial to ABB Grain shareholders," ABB Grain said in statement.

 

ABB Grain now will continue with its growth strategies as a standalone entity and review potential merger and acquisition opportunities in the global agriculture sector, it said.

 

Separately, AWB, which also cited an inability "to agree on appropriate commercial terms," said it maintains options for a strong and sustainable future under its own strategic direction.

 

"AWB is well positioned for an independent future or to participate in any industry consolidation that would be in the best interests of its shareholders," AWB said in its statement.

 

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