It was certainly well known in investment banking cycle that Agria was looking for bids for its stake in PGW. The article below affirms what the informed market knew :
https://www.afr.com/business/where-t...0190310-h1c7ag
Excerpt : "Elders and its adviser Macquarie had cast an eye over Ruralco along with about six other potential acquisition targets in the past 18 months, including New Zealand's PGG Wrightson, before Denmark-based DFL stepped up with a $NZ421 million ($406.5 million) offer for the seeds business." "We didn't make an offer for PGG because there was a 14 times earnings offer from DFL and it's not dissimilar to this situation [Nutrien and Ruralco]," Mr Allison said. "We are not interested in destroying shareholder value." What the interest in PGG Wrightson did show was Elders' appetite to diversify.