Rationalisation of the Agriculture business continued, with Wesfarmers announcing a $1.65 merger of Iama with Dalgety. Under the proposal, Iama will acquire Dalgety in return for 60% of the company. In addition, Wesfarmers will provide an opportunity for existing shareholders to sell their Iama shares at $1.65. Nufarm who offered $1.30 per share welcomed the merger.
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