Over the last few weeks, it appears that Gina Rinehart’s Australian Outback Beef (67% Hancock Prospecting/ 33% China's Shanghai CRED) has won the bidding war for the Adelaide-based pastoral company S.Kidman & Co Ltd. If this $365 million deal is approved by the Foreign Investment Review Board (FIRB), the combined pastoral empire will own 11.9 million hectares or 1.5% of Australia. Food production/agriculture is an area in which Australia possesses a comparative advantage in production, unlike car manufacturing where taxpayers may have trouble discerning the benefit they have received from the billions “co-invested” in the production of motor vehicles which will cease in 2017 with the closure of Holden’s factory at Elizabeth in South Australia. In this note, we look at the extent to which opportunities for investors to get exposure to listed agricultural companies has been diminished over the last ten years by takeovers and the depth of foreign interest in ASX-listed agricultural companies.