“In terms of the shareholders, it is immediate. It is in cash and it is at a very significant premium.
“For the growers, LTAP takes risk out of the business by putting in place a higher-quality investment grade capital structure for the long term.
“This investment-grade structure will mean it is better than triple B, so better than the company is today and better than the vast majority of Australian companies.
“GrainCorp, under LTAP ownership, will take into account the volatile nature of harvests and is far less likely to get into financial strife than the company is today in its current structure.”
Mr Shepherd spoke out in response to comments casting doubt on the debt-heavy, equity-light nature of the LTAP proposal, which is based on an i…
Read the full article at: https://www.afr.com/business/agriculture/crops/shepherd-promises-farmers-will-be-better-off-with-33b-graincorp-takeover-offer-20181207-h18v4c