Australian outback scions bid A$386m for Kidman

Sydney

A GROUP of outback scions has bid A$386 million (S$409 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 - was expected to submit its proposal to the Kidman board on Sunday, an adviser for the group said.