Broking firm Bell Potter has backed the takeover of listed land and water company Tandou by onion and walnut producer Webster, but small investors are still unsure about pricing.

In February, Webster launched a takeover bid for the $128 million company, offering one Webster share for every 2.25 Tandou shares. Logistics legend Chris Corrigan, who sits on the Webster board, and farming expert David Robinson have largely been behind the the takeover play, which Tandou's board has recommended.