For all the time dealmakers spend sitting around in office towers, it's easy to forget how much wealth is outside of Australia's big cities.
A timely reminder is the Auscott Ltd cotton business, which is based in NSW and is one of the country's biggest integrated cotton growers and ginners.
Auscott's owners, an American family company, are keen to move on after 57 years running the show. As we reveal, they've hired PwC to find a buyer, and expectations are the business will fetch north of $500 million.
That's a lot of cotton – and water, with plenty of water entitlements attached to the portfolio.
Metlifecare's chairman Kim Ellis has until close of business Friday to re-engage with suitor EQT or hedge fund investors will call a vote for him to step down.
