Nutrien wants to buy Ruralco
A global giant Nutrien, has received the Australian Competition and Consumer Protection Commission’s approval to proceed with acquisition of Ruralco, a provider of various services to farmers.
“We are very pleased with today’s decision. We continue to believe the combination of our operations with Ruralco in Australia will provide significant strategic and financial benefits for all stakeholders. This combination is good for Australian farmers… The transaction is expected to deliver excellent value for both Ruralco and Nutrien shareholders,” stated Nutrien President and CEO Chuck Magro.
Nutrien now requires approval from the Australian Foreign Investment Review Board, as well as from Ruralco shareholders. The transaction is anticipated to be completed by the end of September 2019.