Archer Daniels Midland (ADM) could lift its already sweetened A$12.20/share offer for GrainCorp...


Archer Daniels Midland (ADM) could lift its already sweetened A$12.20/share offer for GrainCorp (GRCLF.PK) to as much as A$13.05 (A$3B), with a minimum A$12.65 needed to gain board support, a J.P. Morgan analyst calculates. The price range also wouldn't materially impact ADM’s funding capability or its credit position beyond the expected one notch downgrade from the original offer.

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