Kidman announces $26.7m profit, urges shareholders to back Rinehart’s new $386.5m bid

The board of S. Kidman & Co this afternoon recommended that shareholders vote in favour of the bid by Gina Rinehart and her Chinese joint venture partner to buy the iconic cattle company. It comes after the Australian Outback Beef Joint Venture of Mrs Rinehart’s Hancock Group (67pc) and Chinese owned Shanghai CRED (33pc) lifted its bid from its initial $365 million offer to $386.5 million. The higher offer brings the group’s bid above the rival $386m bid launched for Kidman by the “BBHO” consortium of wealthy Australian grazing and farming families earlier this week. Mrs Rinehart has also advised…

Source: Beef Central
Kidman announces .7m profit, urges shareholders to back Rinehart’s new 6.5m bid