Agribusiness, Elders (ASX:ELD) has responded to media reports that it is poised to acquire PGG Wrightson.
Elders says it has not made any definitive proposal to acquire the company.
PGG Wrightson is an agricultural supply business based in New Zealand.
Elders says it evaluates all possible opportunities against a range of factors and will only pursue acquisitions that make compelling strategic and financial sense for its shareholders.
Shares in Elders (ASX:ELD) are trading 0.42 higher to $7.23.