The first entirely Australian offer for the Kidman cattle empire is due to be lodged this weekend and will be higher than Gina Rinehart's Australian-Chinese bid, a member of the domestic syndicate has told the ABC.
The offer by four of the nation's wealthiest outback cattle and transport families is likely to be around $385 million, more than the joint bid by Ms Rinehart's Hancock Prospecting and Chinese real estate conglomerate Shanghai CRED.
"We intend to put a bid in that will be absolutely competitive [and unconditional]," said West Australian and Northern Territory pastoralist Sterling Buntine, who is a member of the BBHO syndicate.
"It will be more than what the current bid is on the table and we would expect the Kidman board to treat it with due respect."
BBHO is bidding for the entire Kidman business, including the defence-sensitive Anna Creek Station, near the Woomera weapons-testing range.
The South Australian property was excised from the original sale offering after Federal Treasurer Scott Morrison blocked foreign bids for the entire landholding on the grounds of national security.
Other members of the BBHO group are South Australian Tom Brinkworth, Malcolm Harris from New South Wales, and Viv Oldfield from Alice Springs.
The families already own huge chunks of pastoral land in northern and central Australia, Queensland, New South Wales and South Australia, and between them run about 400,000 head of cattle, Mr Buntine said.
http://www.abc.net.au/news/2016-10-20/graziers-challenge-rinehart-with-bid-for-kidman-cattle-empire/...
Let's hope it doesn't go the way of Van Diemen's Land Dairy earlier this year.
Sold for $280 mil even though Aussie groups had also put in a bid, only to be gazumped by the Chinese buyer.
http://www.abc.net.au/news/2016-01-13/jan-cameron-plans-rival-bid-to-buy-tasmanian-dairy-giant-vdl/7...
