Elders Limited
(ASX:ELD) has rejected a takeover bid for its rural services business from Ruralco Holdings Limited
(ASX:RHL), according to media reports.
Media outlets have quoted sources close to the deal as saying the takeover target declined the bid, while discussions with lenders over other options reportedly continue.
Last week, Elders entered a trading halt to consider final bids for its struggling rural services and auto parts businesses.
The halt came after the ACCC gave rival Ruralco the green light for a potential takeover of Elders' rural services arm.
But Elders did not specify which companies had made the offers at the time.
Elders posted a $300 million loss in the first half of the current financial year.
