The contest for Australian agricultural assets is getting heated but can we afford to sell GrainCorp? Don Seaton owns a 2.2% stake in GrainCorp and stands to reap a significant profit should the transaction be approved. However, Seaton argues that the ACCC has a flawed track record that can't be ignored in light of the GNC situation. The South Australian market is now tied up by Viterra following an approved takeover of ABB Grains in 2009. What wasn't taken into consideration has been the impact that this monopoly has had on the multiple links in the supply chain. South Australian producers are now paying premiums for transport and logistics solutions that are locked up by one operator. Don Seaton has written an exclusive for The Australian that takes aim at the GNC transaction and provides some interesting background, worth a read. (VIEW LINK)
December 17 is the deadline I believe?
Yes deadline for the Treasurer's decision is December 17th, should it go through the offer is open until Feb 28th unless the offer is adjusted.