{"id":14794,"date":"2012-10-30T15:17:56","date_gmt":"2012-10-30T05:17:56","guid":{"rendered":"http:\/\/southburnett.com.au\/news2\/?p=14794"},"modified":"2024-03-27T14:35:09","modified_gmt":"2024-03-27T04:35:09","slug":"ruralco-explores-elders-acquisition","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2012\/10\/30\/ruralco-explores-elders-acquisition\/","title":{"rendered":"Ruralco Explores Elders Acquisition"},"content":{"rendered":"

October 30, 2012<\/strong><\/p>\n

Ruralco is weighing up its options in regards to making a bid to purchase Elders Rural Services despite being rebuffed by parent company Elders Limited last month when it suggested a merger arrangement.<\/p>\n

Ruralco, which is the largest stakeholder in Elders Limited, says it is “disappointed” with this week’s announcement by Elders to put its Rural Services division on the market.<\/p>\n

Elders’ Board announced to the ASX yesterday that it would sell Elders Rural Services “as part of an accelerated strategy to return value to shareholders”.<\/p>\n

The Tasmanian-based Ruralco responded by saying it believed the sale of the Rural Services division – and Elders automotive division announced earlier – was “unlikely to create any shareholder value”.<\/p>\n

“However the sale of Elders Rural Services creates opportunities for Ruralco,” a statement to the ASX said.<\/p>\n

“Ruralco can potentially generate material synergies from an acquisition of Elders Rural Services.<\/p>\n

“Ruralco will take a disciplined approach to any potential acquisition, to ensure that it creates shareholder value.<\/p>\n

“Alternatively, Elders Rural Services may be sold to an overseas-based buyer.<\/p>\n

“In these circumstances, Ruralco is well-placed for ongoing market share growth as the only remaining large Australian-owned rural services business with a proven business model attractive to key personnel.”<\/p>\n

Earlier this month, Elders confirmed it had received a letter from Ruralco on September 10 proposing that the two companies explore a merger.<\/p>\n

Under this proposal, the Rural Services division of Elders would have been merged with Ruralco and owned by both Elders and Ruralco shareholders.<\/p>\n

On September 17, Elders responded by saying “it was not the right time” to consider a merger of the rural services business and it had a “strong preference for deferring any discussions”.<\/p>\n

At the time Ruralco said it believed Elders’ “capital position” was not sustainable and that the merger option was the best alternative available to Elders to raise equity.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ruralco is weighing up its options in regards to making a bid to purchase Elders Rural Services despite be rebuffed by parent company Elders Limited last month when it suggested a merger arrangement.<\/p>\n","protected":false},"author":20,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,3,36],"tags":[],"yoast_head":"\nRuralco Explores Elders Acquisition - southburnett.com.au<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/southburnett.com.au\/news2\/2012\/10\/30\/ruralco-explores-elders-acquisition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ruralco Explores Elders Acquisition - southburnett.com.au\" \/>\n<meta property=\"og:description\" content=\"Ruralco is weighing up its options in regards to making a bid to purchase Elders Rural Services despite be rebuffed by parent company Elders Limited last month when it suggested a merger arrangement.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/southburnett.com.au\/news2\/2012\/10\/30\/ruralco-explores-elders-acquisition\/\" \/>\n<meta property=\"og:site_name\" content=\"southburnett.com.au\" \/>\n<meta property=\"article:published_time\" content=\"2012-10-30T05:17:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-27T04:35:09+00:00\" \/>\n<meta name=\"author\" content=\"Anne Miller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anne Miller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/southburnett.com.au\/news2\/2012\/10\/30\/ruralco-explores-elders-acquisition\/\",\"url\":\"https:\/\/southburnett.com.au\/news2\/2012\/10\/30\/ruralco-explores-elders-acquisition\/\",\"name\":\"Ruralco Explores Elders Acquisition - 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