NUFARM'S reluctance to disclose information seems to be a running theme – a letter from the agricultural chemical company to shareholders this week lacked any mention of the profit outlook.
A notice issued on Monday called for an extraordinary general meeting on March 2, when shareholders will consider a $611 million, or $14 a share, offer for 20 per cent of the company by suitor Sumitomo Chemical Company, The Australian Financial Review reports.
Analysts were surprised at the lack of information provided to shareholders.
"The disclosure is below par," Credit Suisse analyst Rohan Gallagher said about the EGM notice.
"I think there is a lot of explaining to do and trust they need to win back after the performance in 2009."
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