Ruralco $469 million takeover goes to vote

Ruralco shareholders are set to vote on a $469 million takeover by Canadian fertiliser giant Nutrien.

If 75 per cent of votes are cast in favour of the scheme at a meeting in Sydney on Friday, shareholders of the rural services company will receive $4.40 per share comprised of a $3.56 consideration and a fully franked 84 cent special dividend.

The meeting was rescheduled from July 17 so the competition regulator and Foreign Investment Review Board could assess the takeover, with the ACCC allowing it to proceed after Nutrien agreed to divest three rural merchandise stores to ease competition concerns.

AAP

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