Archer Daniels Midland (ADM) buys a 10% stake in Australia's GrainCorp and wants to start talks...

|About: Archer Daniels Midland Co. (ADM)|By:, SA News Editor

Archer Daniels Midland (ADM) buys a 10% stake in Australia's GrainCorp and wants to start talks about acquiring the whole company, although analysts reckon ADM could get caught up in a bidding war. The U.S. grain trader purchased the shares in the market at A$11.75 ($12.17) each, or a 33% premium to Thursday's close, with the price giving GrainCorp a valuation of A$2.7B. (PR)