Australia, Canberra: Australian marketing concern ABB Grain Ltd. has asked the stock exchange for a trading halt on its shares after a report in the Australian Financial Review newspaper of a possible merger with logistics and malting concern AusBulk Ltd., Dow Jones reported on May 4. ABB Grain didn't provide more details, but indicated a formal announcement is imminent. The Australian Financial Review newspaper said the companies have agreed the terms of a merger to create an agribusiness with a share-market value of A$865 million. A merger was finalized in Adelaide on Friday, the report said. ABB Grain shareholders will emerge with 35% of the combined entity, the newspaper said.

04 May, 2004