Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
Bidders are lining up for beleaguered Australian dairy co-op Murray Goulburn.
Fonterra has been named by Australian media as one of the bidders; others include A2 Milk and several Chinese dairy players.
The co-op, Australia’s largest processor of milk, is in strife following the sharp drop in dairy prices over the past two years; the co-op was forced to claw back milk payout from farmers, triggering an exodus of suppliers.
Recently it announced an after-tax loss for 2016-17 of A$370 million.
MG has told farmer shareholders that all options are on the table as part of a strategic review underway.
“There is no pre-determined outcome to the strategic review and all options are on the table,’ it says.
MG says since announcing the review, MG and its financial advisor have received a range of proposals from third parties. “It is the duty of MG’s directors to consider whether any bona fide propositions tabled are in the best interest of MG’s shareholders.
“The board has asked our advisor to now review any formal proposals received to determine how they might add value to MG’s suppliers, shareholders, and unitholders.”
MG says any potential bidder’s ability to pay higher farmgate prices, access capital for future developments and views on its co-op principles will be crucial for its shareholders.
Fonterra has been approached for comment.
The Commerce Commission says connectivity options for rural New Zealanders are front-of-mind as it begins a formal investigation into the future of the copper network.
Grand Finalists have been selected, all regional finals have concluded, and the journey towards the FMG Young Farmer of the Year Grand Final is underway.
Hopes of NZ sheepmeat prices picking up anytime soon in the country's key export market of China looks highly unlikely.
Regional councils are welcoming the certainty for councils in today’s Resource Management Act (RMA) announcement by the Government.
ASB says the decision to sign on to the AgriZeroNZ joint venture came out of a wish to be a part of the solution.
Federated Farmers says changes announced to the Resource Management Act today mark the end of the war on farming.
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