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
  • Enlist Cotton Approved USDA has made its final decision to deregulate Dow AgroScience's Enlist cotton trait, which means...
  • Market Moves Weaning and preconditioning top the list of aggravating and expensive chores for most ranchers. C...
  • Ask The Mechanic Ask the Mechanic answers the question about how VW and German engineering was able to get by with...
  • Senior Partners - 4 Except for family sales, seller financing virtually vanished after the farm crisis of the 1980s w...
  • PNW Ag Hit by Historic Drought In addition to problems with the Northwestern wheat crop, cattle are also being adversely affecte...
  • RFS Deadline Nears With the deadline to file comments on the proposed Renewable Fuel Standard volumes to strike at m...
  • Woodbury: Farm Family Business Agendas don't always lead to immediate decisions, but can still cement your family unity.
  • Multi-Year Losses Spur Concern The recent price rally offered growers a welcome opportunity to price 2014 and 2015 crops, but it...
  • Ask the Vet The vet says my calf had Mannheimia. What is that?
Related News Stories
Ag Interest Rate Snapshot
Senior Partners - 4
Batten Down the Hatches
Minding Ag's Business
Minding Ag's Business
DuPont Trims Outlook on Ag Weakness
Woodbury: Farm Family Business
Hearing on Railroad Revenue Adequacy
Minding Ag's Business
Grain Shipper Files for Bankruptcy