Gunns is battling to thwart a bid by rival Pulpwood Plantations to snap up the management rights for Great Southern assets, and is asking the failed company's grower investors to delay making a decision until they have seen all proposals.
According to The Australian Financial Review, Gunns chairman John Gay has written to Great Southern's grower investors saying that details of its proposal would be released "shortly".
The move comes as Pulpwood Plantations vies for proxies that will make it the responsible entity for key holdings.
Gunns, which is proposing a $2 billion pulp mill at Bell Bay in Tasmania, is locked in a race for the holdings.
This comes after the receiver, McGrathNicol, called for expressions of interest to acquire all or part of the Great Southern group.
Email a friend