GrainCorp receives $2.4b offer from Long-Term Asset Partners

Jessica Gardner and Brad Thompson

Updated Dec 3, 2018 – 9.36am, first published at 8.54am

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Former Business Council of Australia president Tony Shepherd is behind a bold $2.4 billion bid for control of GrainCorp which comes just as the agriculture giant was considering its own acquisitions.

GrainCorp, the dominant force in east coast grain handling, has received a non-binding, indicative proposal from Long-Term Asset Partners Pty Ltd (LTAP) that value its stock at $10.42 a share.