SYDNEY, Sept 19 The consortium interested in
acquiring and immediately listing Australia's largest grain
exporter Cooperative Bulk Handling Ltd (CBH) has withdrawn its
offer, GrainCorp Ltd - one of the financial backers of
the deal - said on Monday.
CBH in March rejected the offer from the consortium known as
Australian Grains Champion in a deal valued by analysts at up to
A$3 billion ($2.26 billion), after concluding it was not in the
best interests of its 4,200 farmer members.
When rejecting the offer, CBH said it would conduct a review
of its structure, offering shareholders a choice of whether to
change its cooperative structure.
($1 = 1.3270 Australian dollars)
(Reporting by Colin Packham; Editing by Christian Schmollinger)