GNC 5.12% $8.15 graincorp limited

News: GNC Graincorp Says Has Received Non-Binding, Indicative Proposal From Long-Term Asset...

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    Dec 3 (Reuters) - Graincorp Ltd (GNC) :

    • HAS RECEIVED A NON-BINDING, INDICATIVE PROPOSAL FROM LONG-TERM ASSET PARTNERS PTY LTD
    • PROPOSAL INVOLVES AN ACQUISITION, VIA SCHEME OF ARRANGEMENT, OF 100% OF SHARES IN GRAINCORP FOR CASH CONSIDERATION OF $10.42 PER SHARE
    • CO'S BOARD HAS DETERMINED WILL ENGAGE WITH LTAP IN CONTEXT OF ONGOING PORTFOLIO REVIEW TO ASSESS MERITS OF LTAP PROPOSAL
    • BOARD NOTES PROPOSAL INVOLVES SIGNIFICANT LEVERAGE OF $3.2 BILLION ACQUISITION FACILITIES FROM GOLDMAN SACHS,$400 MILLION FROM WESTBOURNE CAPITAL

    Source text (http//reut.rs/2EbbvRQ)

    (([email protected];))

 
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