A Timbercorp executive has confirmed the agribusiness group has received an acquisition or merger offer.
The agribusiness' deputy executive and director, Sol Rabinowicz, said Timbercorp has been approached on a confidential basis by parties interested in exploring an acquisition or merger transaction.
Rabinowicz would not release any details on the interested parties.
"All we can confirm is that over the last few months we've had interest, though there has been no primary offer," he said.
"Beyond saying that over the past few months [the company] has been approached I can't comment. We have a strict corporate policy."
In a statement released to the stock exchange, Timbercorp "has had discussions with such parities, no party has submitted a proposal capable of being considered by the Board."
Timbercorp has raised more than $1 billion from sales or projects in forestry and horticulture to investors since its foundation in 1992.
