Australia’s GrainCorp Up for Possible Takeover by US Giant ADM

By International Business Times,  October 19, 2012, 01:35:19 AM EDT

GrainCorp Ltd. could be up for a possible $3-billion takeover by US giant Archer Daniel Midlands Co. ( ADM ) after the latter seized up a 10 per cent controlling stake in Australia's largest listed grain trader.

In a statement to the Australian Securities Exchange on Friday, GrainCorp declared that it had received notice from ADM of its purchase and that ADM "wishes to engage in discussions" towards a potential transaction. GrainCorp is one of Australia's last remaining independent grain traders, with a market value placed at A$2 billion ($2.07 billion).

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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 The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: ADM



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