Consortium of Aussie grazing families tipped to trump Gina Rinehart’s bid for S Kidman & Co. Final winning bid tipped to be over $390 million.
No more bidders expected to enter the race.
Gina Rinehart is used to getting what she wants but the odds for once are not in her favour according to online bookmaker sportsbet.com.au in her bid to buy S Kidman & Co.
The latest interest shown by BBHO, a consortium of Australian grazing families, is the $1.60 favoured bid to acquire Australia’s most successful beef producer with Rinehart & Co offered at $2.60.
Considering BBHO topped her bid by over $20 million, the sale is expected to increase the value of S Kidman & Co to eventually sell for between $390 and $395 million at odds of $3.00.
Sportsbet are also betting that no other suitor enters the race at odds of $1.22, with $4.00 on offer for further interest from another party.
“There’s a lot at stake for Rinehart but we’re tipping the consortium of BBHO will end this beef as the owners of S Kidman & Co,’’ said sportsbet.com.au’s Will Byrne.
Markets courtesy of sportsbet.com.au
Who will win the bid for S Kidman and Co.
$1.60 BBHO Syndicate
$2.60 Gina Rinehart/Australian Outback Beef Syndicate
$11 Any Other
Value of Winning Bid
$3.50 386 – 390 million
$3.00 390.01 – 395 million
$4.00 395.01 – 400 million
$5.00 400.01 – 405 million
$7.00 Greater than 405 million
Will there be any more rival bids?
Will the FIRB reject the Rinehart Syndicate bid if it wins?