date:Jun 25, 2013
Archer Daniels Midland Co. has submitted a bidders statement with the Australian Securities and Investments Commission that includes an all-cash offer to acquire GrainCorp Ltd. for A$12.20 ($12.54) per share. The offer represents a 49% premium to the closing price of GrainCorp shares of A$8.85 on Oct. 18, 2012, the last day before ADM first approached GrainCorp. The total value of the transaction will be approximately A$3.4 billion ($3.5 billion).
ADM first entered into an agreement to acquire