ADM wins Korean approval for GrainCorp deal

|By:, SA News Editor

South Korea becomes the seventh government to approve Archer Daniels Midland's (ADM -0.2%) $3.1B takeover of GrainCorp (GRCLF.PK), leaving China and Australia as the final two countries needed to clear the deal.

The takeover is on track to close by the end of the year, ADM CEO Patricia Woertz said in yesterday's earnings conference call.