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Australian grain exporter GrainCorp (GRCLF.PK) has accepted an increased takeover offer of A$3B...

Australian grain exporter GrainCorp (GRCLF.PK) has accepted an increased takeover offer of A$3B ($3.1B) from Archer Daniels Midland (ADM) following a six-month courtship. ADM has agreed to pay A$12.20 a share and a dividend of A$1 a share. Should the company buy GrainCorp - the deal is subject to due diligence - ADM will gain control of seven out of eight ports that facilitate the bulk shipping of grain from Australia's east coast. (PR)
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