The extraordinary general meeting of Duxton Farms (ASX code DBF) last Friday saw DBF shares slump 8.5 per cent to a five-year low as its diversification plans seemed likely to collapse.

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Cropping in NSW can be a tough business. So tough that Duxton decided some time ago to diversify by merging with four private farming companies, which it already manages indirectly through an associated investment management company.

Dissident shareholders had protested to the takeovers panel, claiming the merger was at a significant overvaluation, and, in effect, transferred value to DBF's controlling shareho

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