Shareholders approve Grainco Australia/GrainCorp merger

by Emily Buckley
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TOOWOOMBA, QUEENSLAND, AUSTRALIA — Grainco Australia Limited shareholders in mid-August accepted an A$1.392 per share (U.S.$0.921) merger offer from GrainCorp Limited. The merger will be implemented Oct. 1.

GrainCorp has been through an extensive program of modernization, geographic expansion and supply chain diversification, including public listing on the ASX in 1998, a merger with Vicgrain in 2000 and the purchase of Allied Mills in 2002 in a joint venture with Cargill Australia.