Archer Daniels Midland (NYSE:ADM) raises its takeover offer for GrainCorp (OTCPK:GRCLF) to...

Archer Daniels Midland (NYSE:ADM) raises its takeover offer for GrainCorp (OTCPK:GRCLF) to A$12.20 ($12.73) per share in cash, up from a rejected earlier bid of A$11.75. ADM says it acquired an additional 5% of GrainCorp for the new offer price, raising its stake in the Australian grains handler to 19.9%.