Archer Daniels Drops $3B GrainCorp Takeover After Rejection

Law360, New York (December 4, 2013, 7:04 PM EST) -- Archer Daniels Midland Co. has given up its attempt at a AU$3.4 billion ($3.2 billion) takeover of GrainCorp Ltd. after an Australian regulator issued an order prohibiting the proposed acquisition, according to documents filed Monday with the U.S. Securities and Exchange Commission.

Illinois grain handler ADM told the SEC that it has officially withdrawn its offer takeover bid after it had made multiple attempts to acquire the remaining shares of Australian-based GrainCorp that it did not already own, most recently making the AU$3.4 billion deal in...
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