date:Dec 14, 2012
GrainCorp has snuffed Archer Daniels Midland's (ADM) second, higher takeover bid saying that it still materially undervalues the business.
The US crop processor submitted its second, higher A$2.81bn ($2.9bn) bid on December 3 after its initial A$2.7bn ($2.8bn) submission on October 19 was rejected.
Today, GrainCorp rejected this sweetened offer.
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