Hancock Group defends Australian-Chinese bid for S Kidman and Co

The Hancock Group has defended its joint Australian-Chinese bid for the Kidman cattle empire by denying an all-Australian offer is superior.A syndicate of four grazier families is making a $386 million bid for S Kidman and Co, effectively a couple of million dollars more than the preferred offer by Hancock Prospecting and its minority joint venture partner, Shanghai CRED.Hancock Group chief executive Garry Korte said the Hancock JV bid was an Australian bid and Gina Rinehart was a fourth generation Australian. “Mrs Rinehart is from a long line of great Australian pastoralists, from her great grandfather…

Source: ABC Beef Cattle
Hancock Group defends Australian-Chinese bid for S Kidman and Co