Long-Term Asset Partners bid for GrainCorp.

Long-Term Asset Partners made a $2.4bn offer for GrainCorp, a public company, whose core business is the receival and storage of grain and related commodities. LTAP offered a cash consideration of $10.42 per share. LTAP has stated that it is an asset manager for a trust whose beneficiaries are Australian investors. Further, that the structure has been established to make long-term investments and that it does not intend to sell any of the assets of GrainCorp should the LTAP Proposal be recommended by the GrainCorp Board and ultimately supported by GrainCorp shareholders as a scheme of arrangement. The offer was withdrawn on May 6, 2019.