date:Oct 22, 2012
Archer Daniels Midland opened a fresh chapter in the consolidation wave in agricultural trading by unveiling plans to buy GrainCorp, the Australian grain handler, on which it spent $280m raising its stake.
Archer Daniels Midland said it had approached the GrainCorp board hoping to negotiate an agreed takeover of the Sydney-based group, in which it had raised its holding from 4.9% to 14.9%.
As part of the Archer Daniels Midland empire, GrainCorp would be better positioned to connect Australia's