Australia’s richest woman ups bid for cattle empire

AFP, SYDNEY: Australian mining magnate Gina Rinehart yesterday increased her joint offer with a Chinese company for one of the world’s biggest cattle estates, to fend off a rival bid by an all-Australian consortium.
Rinehart’s Hancock Prospecting and Chinese property developer Shanghai CRED raised their offer to Aus$386.5 million (US$295 million) from Aus$365 million for Australia’s biggest private landowner—cattle firm S. Kidman and Co—days after four wealthy grazier families launched their own Aus$386 million bid.
The local families had argued their proposal was better as it did not need approval from the Foreign Investment Review Board (FIRB).

Australias richest woman ups bid for cattle empire

AFP, SYDNEY: Australian mining magnate Gina Rinehart yesterday increased her joint offer with a Chinese company for one of the worlds biggest cattle estates, to fend off a rival bid by an all-Australian consortium. Rineharts Hancock Prospecting and Chinese property developer Shanghai CRED raised their offer to Aus$386.5 million (US$295 million) from Aus$365 million for Australias biggest private landownercattle firm S. Kidman and Codays after four wealthy grazier families launched their own Aus$386 million bid. The local families had argued their proposal was better as it did not need approval from the Foreign Investment Review Board (FIRB).