Archer Daniels Boosts GrainCorp Bid To $3.6B

Law360, Los Angeles (April 25, 2013, 10:37 PM EDT) -- Archer Daniels Midland Co. has sweetened its off-market takeover offer to acquire all the outstanding shares in GrainCorp Ltd. it doesn't already own, in a deal now valued at AU$3.4 billion ($3.6 billion), including GrainCorp's net debt, the companies announced Thursday.

The signed takeover bid implementation deed comes just four months after Illinois-based grain handler Archer Daniels boosted the value of its offer for Australia-based GrainCorp to AU$2.9 billion, forging ahead with takeover plans after GrainCorp rejected an October 2012 bid as inadequate. Archer Daniels currently...
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