Market Overview

ADM Responds to Australian Federal Treasurer Rejection of Its Application to Acquire GrainCorp

Related ADM
Mondelez International Inc, Lindt Among 2014's 4 Big Cocoa Consolidations
What Is A High Risk Market?
Archer Daniels to Buy Wild Flavors for $3B (Fox Business)
Related GRCLF
ADM Announces Package of Additional Commitments for GrainCorp Acquisition
ADM Responds to GrainCorp

Archer Daniels Midland Company (NYSE: ADM) notes today's announcement by
the Australian Federal Treasurer that he has made an order prohibiting
ADM's proposed acquisition of GrainCorp Limited (OTC: GRCLF).

“We are disappointed by this decision. We are confident that our
acquisition of GrainCorp would have created value for shareholders of
ADM and GrainCorp, as well as grain growers and the Australian economy,”
said ADM Chairman and CEO Patricia Woertz.

“Throughout this process, we worked constructively to create an
arrangement that would be in Australia's best interests and made
substantial commitments to address issues that were important to
stakeholders,” she said. Woertz confirmed there were no conditions or
undertakings requested

See full press release

Posted-In: News Guidance Contracts Management M&A Global

 

Related Articles (ADM + GRCLF)

Around the Web, We're Loving...

Get Benzinga's Newsletters