The NZ Crafar farms have received another offer - $171.5 million or about $28 500 per hectare – which sits a bit below the current $200 million offer by Shanghai Pengxin. The offer is being fronted by Sir Michael Fay and comes from a group of central North Island dairy farmers and hence it does not require Overseas Investment Office (OIO) approval. Mr Fay says his group is the only other serious offer, saying they’re “ready to walk onto the land. Obviously that’s subject to the [OIO] rejecting the current offer”. The Fay group previously made an offer for nine of the sixteen Crafar farms which was declined.