The takeover bid of Spain's food giant Ebro of Australia's Ricegrowers Ltd will no longer push through as some shareholders in the latter rejected the bid.

"Shareholders in Ricegrowers Ltd.-SunRice have decided not to support the takeover offer presented by Ebro," Spain's biggest food group said in a statement.

Ebro announced in November that it had signed a definitive deal to take over Ricegrowers, owner of the SunRice brand, for A$600 million Australian dollars ($570 million).

Nonetheless, the proposal requires the approval of Australia's regulators and its shareholders as Ricegrowers is Australia's biggest rice supplier.

The required vote is 75 percent overall majority votes are needed in order for the agreement to push through. All-in-all, a total of 67 percent class A shares voted in favor of the acquisition, while 76 percent of class B share holders were in favor of the takeover bid resulting of achieving less than the required overall majority votes.

"The deal was complicated from the start," Ebro president Antonio Hernandez Callejas said in the statement. "Reaching the super-majority was a complicated goal but Ebro has an excellent financial position to achieve other similar targets, whether in rice or pasta.

Mr Callejas said that if Ricegrowers changes its complex corporate structure, there might be a possibility to resume talks as they will try maintain excellent relations with the Australian company.

Ricegrowers Limited, trading as SunRice, is one of the largest rice food companies in the world and one of Australia's largest exporters of processed branded food products. Its facility in New South Wales can produce approximately 500,000 tons of rice per year.