Archer Daniels Midland (ADM) raises its takeover offer for GrainCorp (GRCLF.PK) to A$12.20...

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

Archer Daniels Midland (ADM) raises its takeover offer for GrainCorp (GRCLF.PK) 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%.