News International Sugar Journal

Australia – Queensland Sugar derails Bunge’s Tully takeover plans [Registered]

Queensland Sugar has intervened in Bunge’s proposed A$126.7 million (US$128m) bid for Australian sugar mill Tully Sugar. Support for a plan to remove a 20% shareholding cap in Tully required to push the Bunge bid forward received 72% support, below the 75% required, after Queensland Sugar opposed it. Queensland Sugar, may favour a rival plan being developed by Mackay Sugar.…

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