(MENAFN- ProactiveInvestors)
Water investment and agribusiness Limited () continues to recommend that shareholders accept Limited’s () takeover bid of 1 WBA share for every 2.25 TAN shares.
On 25 May 2015 WAN’s share price closed at $1.96 an implied consideration of about $0.87 for every TAN shares.
This represents a premium of 83% to the share price of $0.475 as at the close of trade before the offer was announced on 27th February 2015. TAN last traded at $0.77.
has to date received acceptances totalling about 37% of ’s shares.
The enlarged will have the largest portfolio of water entitlements in Australia (over 235000 megalitres); annual walnut production of approximately 7000 tonnes p.a. from orchards in New South Wales and Tasmania; and over 40000 hectares of irrigated land for cotton farming operations representing around 11% of cotton area planted across Australia.
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