Deals
ADM Buys Stake in GrainCorp, Seeks Talks on Potential Deal
This article is for subscribers only.
Archer-Daniels-Midland Co., the world’s biggest corn processor, is seeking talks with GrainCorp Ltd. about a potential takeover after boosting its stake in the grain handler.
“ADM has approached GrainCorp with the aim of arriving at an agreement under which GrainCorp’s board of directors would recommend to its shareholders a cash acquisition by ADM,” the Decatur, Illinois-based company said today in a statement. It has increased its stake in GrainCorp to 14.9 percent from 4.9 percent previously.