However, a spokesperson for Agrium has assured that Agrium remains interested in the grain side of the purchase.

C. Todd Coakwell, Agrium manager of investor relations, reiterated that AWB's grain assets are of great interest and value to Agrium.

"The grain trading was up for sale before Agrium entered, so we will look at the due diligence that was done before hand on the sale of this portion of the business and make a decision there."

Previously both GrainCorp and Gavillon had entered into merger agreements with AWB.

Mr Coakwell told Feedstuffs as for the grain handling side, Agrium sees "value in this business and is very interested in learning more about it. It has some distribution assets and is directly linked to the grower."

Mr Coakwell said that as Agrium invests along the entire ag chain, this will bring further diversity to its retail business.

Mr Coakwell added it expects to have a shareholder vote and removal of a 10 per cent shareholder cap in mid-November.

Effective and Scheme record date will take place at the end of November.

The closing date is likely around the front end of December.

"Obviously there will be filing with the ACCC (competition) and FIRB (foreign investment) committees and bureaus in the front end of this schedule."