Deals
Outback Scions Bid $294 Million for Iconic Kidman Ranches
- BBHO group’s offer trumps one from Rinehart and China partner
- Proposed all-Australian bid won’t need government approval
BBHO Tops Rinehart's Bid for Kidman Cattle Empire
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A group of outback scions bid A$386 million ($294 million) for all the shares of S. Kidman & Co., trumping an offer from billionaire Gina Rinehart and her Chinese business partner for one of Australia’s largest beef producers.
The group, known as BBHO -- an acronym based on the family names of directors Tom Brinkworth, Sterling Buntine, Malcolm Harris and Viv Oldfield -- submitted its proposal to the Kidman board Sunday, Buntine said. Kidman, based in Adelaide, South Australia, is owned by descendants of its founder, “Cattle King” Sidney Kidman, who began in 1899 amassing ranches that made him at one time the world’s largest landholder.