Company News

Australian watchdog seeks views on Landmark-Ruralco deal

July 29 (Reuters) - Australia’s competition regulator said on Monday it is seeking views on a proposed undertaking by Canada’s Nutrien Ltd relating to its takeover bid for Ruralco Holdings Ltd.

Under Nutrien’s proposed undertaking, its wholly owned unit Landmark - one of the largest agricultural businesses in Australia - would divest three rural merchandise stores located in Broome, Alice Springs and Hughenden, to address concerns raised by the regulator.

In June, the Australian Competition and Consumer Commission (ACCC) voiced concern that the Canadian fertilizer giant’s $337 million takeover offer for rural services firm Ruralco could reduce wholesale competition. (Reporting by Rashmi Ashok in Bengaluru; editing by Richard Pullin)