15 Apr 2011

Agria has acceptances for PGG Wrightson majority control

7:58 am on 15 April 2011

Chinese investor Agria has secured acceptances giving it majority control of PGG Wrightson.

Agria's offer, of 60 cents a share, closes next week.

PGG Wrightson's independent directors have recommended shareholders accept the bid in the absence of a better deal.

Some commentators are unhappy with PGG Wrightson and Agria over the bid, as investors have been left in the dark about Agria's plans for the rural services firm.