0005 GMT - Elders' acquisition of Delta Agribusiness is in line with the Australia-listed company's broader strategy, Macquarie analysts say in a note. Macquarie's involvement in the equity raise that is partly funding the A$475 million acquisition means the analysts are on research restrictions, but they still point out that Elders has a successful track record on acquisitions. They tell clients that they have yet to factor the acquisition into their forecasts, but flag the potential for Elders to deliver A$12 million in annual synergies within three years of completion. Elders shares are down 7.7% at A$7.86 following the capital raise. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 18, 2024 19:05 ET (00:05 GMT)
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