Australia’s Graincorp Receives Sweetened Bid Offer From US Giant ADM, But Still Not Convinced to Turn Over Tables

By Esther Tanquintic-Misa,

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U.S. agribusiness giant Archer Daniels Midland Co ( ADM ) may have upped its takeover bid into GrainCorp Ltd., Australia's largest listed grain trader, as well as bought an additional 5 per cent of the company, but Australia's last standing independent grains handler remain unconvinced it should sell itself to its present persistent suitor.

In a note to clients, Belinda Moore, analyst from RBS Morgan, said the sweetened bid was still not enough to entice GrainCorp.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing Commodities
Referenced Stocks: ADM

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