|Bid||7.79 x N/A|
|Ask||7.81 x N/A|
|Day's Range||7.78 - 7.99|
|52 Week Range||7.24 - 9.96|
|Beta (3Y Monthly)||-0.00|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 12, 2019 - Nov 16, 2019|
|Forward Dividend & Yield||0.16 (2.06%)|
|1y Target Est||8.92|
Australia's competition watchdog, the Australian Competition and Consumer Commission (ACCC), has expressed competition fears over the acquisition of the wharf-side GrainCorp Liquid Terminals by independent bulk liquid storage company ANZ Terminals. The ACCC has formed a preliminary view that the potential sale would "substantially lessen competition"... and that's the first step on the way to blocking the A$350 million (US$248 million) deal. ANZ Terminals and GrainCorp both provide marine/wharf-side bulk liquid storage business around Australia.
GrainCorp Ltd, Australia's largest listed bulk grain handler, has signed a 10-year deal with insurance broker Aon Plc to boost its earnings during times of severe drought, after taking a profit hit from prolonged dry weather. GrainCorp's revenues have been under pressure for the last few years after drought across Australia's east coast cut production - limiting the bulk grain handler's ability to earn revenues from storing the crops and exporting them. To reduce cash flow volatility, GrainCorp said on Friday it has entered into an agreement that will see it receive extra payments in times of drought, while it will have to pay out when seasonal conditions are good.
Australia's largest-listed grain handler, GrainCorp Ltd, said that suitor Long-Term Asset Partners (LTAP) has withdrawn its A$2.4 billion ($1.7 billion) takeover bid after due diligence, pushing shares to five-month lows. GrainCorp stock dropped 11 percent at the open of trade on Tuesday to hit close to where it stood preceding the bid, before recouping some of those losses to trade at A$8.18. The little-known asset manager had made an offer of A$10.42 per share in December 2018, as drought wilted crops across Australia's east coast and limited GrainCorp's ability to earn revenue from international grain trading.
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Australian takeover target GrainCorp Ltd said on Thursday it plans to separate in two, spinning off and listing its global malting unit and restructuring its grain business, whose earnings have been hit by drought. At the same time, GrainCorp said it is still engaging with suitors vying for parts or all of the company, including little known asset manager Long-Term Asset Partners (LTAP), which last year made a A$2.38 billion ($1.69 billion) takeover offer. Shares in Australia's biggest listed bulk grain handler rose as much as 5.3 percent in early trade before closing up 2.1 percent at A$9.50 in a slightly weaker overall market.
GrainCorp, which is listed on the Australian Stock Exchange, is an agribusiness and bulk-ports operator. It has agreed to sell its Australian bulk liquid terminals business to independent bulk liquid storage company, ANZ Terminals, for about AUD$350 million (USD$248 million). Eight terminals, with a combined storage capacity of about 211,000 cubic meters, will be sold.
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New Zealand's top online marketplace Trade Me Group said it has received a NZ$2.56 billion ($1.8 billion) buyout proposal from a U.S. private-equity firm, trumping a rival offer and setting the stage for a possible bidding war. The offer adds to a flurry of deals made this year in Australia and New Zealand - attractive for private-equity firms given their stable and advanced economies that offer a steady cash flow amid a global financial market rout. California-based Hellman & Friedman offered NZ$6.45 per share for Trade Me, or NZ$0.05 higher than an offer London-based private equity group Apax Partners made last month.
Australia's largest listed bulk grain handler GrainCorp Ltd said on Monday it received an unsolicited A$2.38 billion ($1.8 billion) takeover approach from a little-known asset manager, catapulting its shares nearly a third higher. GrainCorp said privately held Long-Term Asset Partners (LTAP) made an all-cash approach of A$10.42 a share, a near-43 percent premium to the stock's closing price on Friday. Confirming the approach, LTAP said it was an asset manager for a trust whose beneficiaries were Australian investors.
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Australia's largest listed bulk grain handler GrainCorp Ltd (GNC.AX) said on Monday it received an unsolicited A$2.38 billion (£1.3 billion) takeover approach from a little-known asset manager, catapulting its shares nearly a third higher. GrainCorp said privately held Long-Term Asset Partners (LTAP), made an all-cash approach of A$10.42 a share, a near-43 percent premium to the stock's closing price on Friday. Confirming the approach, LTAP said it was an asset manager for a trust whose beneficiaries were Australian investors.
Australia's largest listed bulk grain handler GrainCorp Ltd (GNC.AX) said on Monday it has received a A$2.38 billion (£1.3 billion) takeover proposal from a little-known company called Long-Term Asset Partners Pty (LTAP). GrainCorp said LTAP made a cash approach of A$10.42 a share, a near 43 percent premium to GrainCorp's closing price on Friday. GrainCorp said it would consider the proposal but needed to know more information about the financial backers of LTAP and its plans for the Australian bulk grain handler.
After GrainCorp Limited’s (ASX:GNC) recent earnings announcement in March 2018, analyst consensus outlook appear bearish, with profits predicted to drop by -18% next year. Though this outlook is not unsubstantiated Read More...
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