PGG Wrightson Limited
Transaction Type: Takeover (Partial)
Offeror: Agria (Singapore) Pte Limited
Independent Adviser(s): Grant Samuel (Rule 21)
Offer dispatch date: 24/01/2011
Offer closing date: 23/04/2011
On 24 January 2011, Agria (Singapore) Pte Limited (Agria) made a partial takeover offer for 38.3% of the ordinary shares in PGG Wrightson Limited (PGG) that it did not already hold or control, for consideration of $0.60 per share. At the time of the offer, Agria held or controlled 19.1% of the ordinary shares in PGG.
The offer closed on 23 April 2011. On 5 May 2011, Agria announced that it had received acceptances in respect of 78.16% of the PGG shares on issue. Consequently, those acceptances were scaled such that Agria held or controlled 50.01% of PGG.
Grant Samuel prepared a rule 21 independent adviser’s report on the merits of the offer.