State-owned farming company Landcorp has confirmed it will bid for the Crafar family farms, and may do so with a private partner.

Its board met on Monday and  voted unanimously to throw its hat in the ring on all 16 central North Island properties.

Chief executive Chris Kelly says while Landcorp’s offer might not be the biggest on the table, they’re hoping it’ll be the best.

"If the rumours I’m hearing are true, figures are around 200 million, our bid won’t be as high as that. It’s purely a financial decision.”

The tender is being handled by Bayleys Real Estate, and closes at 4pm on Wednesday.