December 2, 2018 / 9:59 PM / 14 days ago

Australia's GrainCorp gets $1.76 bln buyout offer

Dec 3 (Reuters) - Australia’s GrainCorp Ltd received a buyout proposal from asset manager Long-Term Asset Partners Pty (LTAP) in an all-cash deal for A$2.38 billion ($1.76 billion), the company said in a statement on Monday.

GrainCorp’s board said it would engage with LTAP with regard to an ongoing portfolio review of the company and also assess merits of the proposal.

$1 = 1.3548 Australian dollars Reporting by Devika Syamnath in Bengaluru; Editing by Peter Cooney

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