PGW - PGG Wrightson

**Blendy** · 28-01-2011, 05:20 PM

that's what i was thinking too - otherwise why would they bother? Hmmm.... undecided....

**iceman** · 29-01-2011, 08:12 AM

Originally Posted by Blendy

that's what i was thinking too - otherwise why would they bother? Hmmm.... undecided....

I think and hope getting Agria as a cornerstone shareholder will shake up and refocus this company, which has been floundering of late. So I welcome Agria and will sell them 38% of my shares (at a reasonable profit), which is what they are after, and keep the remaining 62% and go with them for the ride hoping for the best !! That of course is assuming their offer will be successful !

**winner69** · 29-01-2011, 10:22 AM

You have got 70 odd sleeps to decide .... a lot can happen in that time

The experts report might say Agria is doing a Whimp and the offer is 'unfair'.... then again the NZX50 might fall below 3000 and Agria can walk away (or change the offer?)

Wouldn't worry too much at the moment about what to do

**percy** · 30-01-2011, 12:08 PM

Originally Posted by belgarion

Surely? Nope, they may just be there for the capital play in splitting off PGW Finance and could be very short term holders indeed!

They are after the seeds business.They have a lot of people to feed.

**mikew** · 04-02-2011, 08:43 AM

Another party who has indicated an interest in making a full takeover offer for PGW

It was announced on 14 January 2011, that the PGG Wrightson Limited (PGW) Board had formed a Takeover Response Committee (“Committee”) to discharge the Board’s obligations under the Takeover Code. The Committee, which compromises independent directors’ Sir John Anderson, Keith Smith and Bill Thomas, has the delegated authority of the PGW Board to determine PGW’s response in relation to the partial takeover received from Agria (Singapore) Pte Ltd (Agria) and to deal with any other related takeover issues.

As previously advised, PGW will issue its Target Company Statement in response to the Agria offer on Monday, 7 February 2011. The Target Company Statement will include an Independent Adviser’s Report from Grant Samuel and a recommendation from the Committee.

In the meantime, the Committee notes that it has received an approach from another party who has indicated an interest in making a full takeover offer for PGW. That party, who the Committee considers to be a bona fide potential bidder, has requested that it be permitted to undertake due diligence in relation to PGW. The Committee has agreed to this request.

While there is no certainty of a better bid emerging following due diligence, the Committee considers that this is a material development about which PGW shareholders need to be informed.

Given the potential for another offer to emerge during the Agria offer period, the Committee recommends that shareholders wait until nearer the close of the Agria offer period (currently, 15 April 2011) to make a decision on the Agria partial takeover offer.

Any takeover situation is dynamic and this means that circumstances could change materially before the nominated offer closing date.

For further information:

Maurice Noone
021 343 543

**Snoopy** · 04-02-2011, 10:28 AM

Originally Posted by belgarion

PGW will benefit and Agria's 60c offer will soon look like theft!

Interested to read about 'New Hope'. Agria's bidding partner in what looks like a takeover battle. They seem much bigger than Agria ($NZ12b in revenue) yet are very much taking a back seat in the takeover process. Perhaps they just want to see how things go, but I don't understand why 'New Hope' have to be involved at all. Is 'New Hope' the conduit through which Agria must operate in China if it wants to sell seeds? Or is Agria really a house of cards sitting on heavy investment losses that have overstreched themselves and have they been forced to bring in 'New Hope' to save face?

SNOOPY

**mikew** · 04-02-2011, 10:37 AM

Originally Posted by belgarion

Could it be PGC ??? ... probably not ... Probably asian?

Canadian group potential PGG Wrightson bidder

New takeover interest in rural services company PGG Wrightson, announced by the company this morning, is understood to be from Australian company Landmark, a subsidiary of Canadian agriculture group Agrium.

Landmark currently owns half of New Zealand farming supplies company RD1 in joint venture with Fonterra.

A full takeover offer would need a bid of 70c-80c, said one, and would likely be immediately matched by the Agria consortium.

**climbtree** · 04-02-2011, 03:45 PM

ARGGGGGGGGGGGGGGGG I put a sell bid out last night at .56 because I needed the money, woke up late quite happily to find it had sold. I'm kicking myself.