19 October 2012 15:13 [Source: ICIS news]
HOUSTON (ICIS)--Archer Daniels Midland (ADM) has increased its stake in ?xml:namespace>
ADM holds a 14.9% interest in the Sydney-based grain handling, oils and agricultural company, after acquiring an additional 10%, at Australian dollar (A$) 11.75/share ($12.11/share), on Thursday, it said.
GrainCorp confirmed that ADM approached it “concerning a potential transaction.” However, GrainCorp has not yet received a formal proposal from ADM, it said.
($1 = A$0.97)
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