Elders Hybrids

It appears Elders' chairman John Ballard and chief executive Malcolm Jackman have had enough, or at least their bankers have. The company yesterday announced the accelerated sale of its rural services business, which effectively signals the wind up of the company. This follows the August announcement that its automotive business is also on the auction block. Elders claim this move is motivated by taking control of any takeover process; most likely from significant shareholder Ruralco who have expressed a clear interest in the rural services business. This move could also help smoke out another bid, especially at a time...

It appears Elders' chairman John Ballard and chief executive Malcolm Jackman have had enough, or at least their bankers have. The company yesterday announced the accelerated sale of its rural services business, which effectively signals the wind up of the company. This follows the August announcement that its automotive business is also on the auction block.

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