Webster’s (ASX:WBA) Canadian takeover underway

Company News

by Rachael Jones

Agricultural group Webster (ASX:WBA) reports that the Supreme Court of NSW has made orders approving the Ordinary Scheme of Arrangement under which an indirect wholly-owned subsidiary of Canada’s Public Sector Pension Investment Board will acquire all of the ordinary shares in Webster that they not already own.

Webster expects to lodge a copy of the Court orders with the Australian Securities and Investments Commission on 7 February at which time the Scheme will become effective.

PSP already owns 19 per cent of Webster and has a list of other farming partnerships in Australia.

Shares in Webster (ASX:WBA) closed 0.1 per cent higher at $2.00 yesterday.