Agrium Tops GrainCorp With $1.1B AWB Bid

Law360, New York (August 16, 2010, 1:59 PM EDT) -- Canadian fertilizer supplier Agrium Inc. has offered to buy AWB Ltd. for AU$1.24 billion ($1.1 billion) in a bid to block it from merging with fellow Australian agricultural giant GrainCorp to create one of the world's largest grain exporters and malt producers.

Agrium sent AWB its proposal Saturday, offering AU$1.50 per share, a 57 percent premium over the company's AU$0.955 trading price in late July just before GrainCorp and AWB announced they had entered into a merger implementation deed.

GrainCorp's offer, on the other hand, would...
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