Australia’s competition regulator said on Thursday it was examining whether a proposed takeover of Ruralco could reduce wholesale competition and lead to discrimination against some independent retail stores.
In February, rural services firm Ruralco got a A$469 million ($337 million) all-cash takeover offer from Canadian fertilizer giant Nutrien. Nutrien operates in Australia through its wholly owned unit Landmark, one of the largest agricultural businesses in Australia.
According to Reuters the offer comes at a time of heightened global interest in Australia’s agriculture sector, with Saputo Inc grabbing Murray Goulburn for $1.0 billion, while GrainCorp Ltd received a A$2.38 billion bid from a privately held asset manager.
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