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.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.