FARM BUSINESS NEWS
Mon Dec 3, 2012 08:13 AM CST

(Dow Jones) -- Archer Daniels Midland Co. (ADM) has sweetened its takeover bid for Australia's GrainCorp Ltd. (GNC.AU) by 3.8%, a deal that now values the world's second-largest wheat exporter at about A$2.8 billion.

Archer is now offering GrainCorp shareholders A$12.20 a share in cash, up from its October offer of A$11.75. Archer noted that the new offer represents a 40% premium to the last closing price of GrainCorp shares on the day before the initial offer was unveiled.

Shareholders would keep the dividend of A$0.35 announced Nov. 15.

"Our proposal also offers more certainty, greater value and immediate realization ...

Quick View
  • Is Your Burndown Working? A cool, wet spring and the spread of herbicide-resistant weeds mean farmers should take the extra...
  • Gains on Covers It took Jerry Doan several years and a lot of trials, but the North Dakota beef producer has lear...
  • Side-by-Sides and Cool Helmets Side-by-side manufactures continue to roll out new machines and machine updates. Here are two more.
  • Stress Test for Borrowers Farm finances rate an "A" now, but economists debate if that's good enough to handle a major corr...
  • Senators Question EPA A group of U.S. senators Wednesday told President Barack Obama that his administration has not fo...
  • Climate Work Ahead at USDA Ag Secretary Tom Vilsack spoke about GOP complaints regarding the Obama administration's work wit...
  • Full-Circle Farming Bill Couser sees farming as a full circle. If it comes off the farm, it can go back into the farm.
  • Making the Grade What if corn isn't cheap the next five years? Fickle price projections can sway farm bill choices.
  • Ask the Vet What's my best bet for fly control?
Related News Stories
Ag Interest Rate Snapshot
Minding Ag's Business
Minding Ag's Business
USDA Eyes Rural Investment
Klinefelter: By the Numbers
Adverse Weather Hurts DuPont Earnings
Cost of Carry Calculation
Stress Test for Borrowers
Agricultural Adventure
CHS Expanding Propane Storage