daytrading oct 19 morning, page-151

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GrainCorp and Archer Daniel Midlands to discuss potential transaction
Friday, October 19, 2012 by John Phillips GrainCorp (ASX: GNC) has been granted a trading halt this morning by the ASX, with the company's shares placed in pre-open.

GrainCorp said that it has been advised by Archer Daniel Midlands (NYSE: ADM) (ADM) that ADM has acquired a stake in the company and wishes to engage in discussions with GrainCorp concerning a potential transaction.

In the statement to the exchange GrainCorp confirms that it has received no formal proposal, and said: ' Should GrainCorp receive a proposal from ADM, the Board will review the proposal as well as other options to maximise value for GrainCorp shareholders.'

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Tuesday 23rd October 2012.


About Archer Daniel Midlands

Archer Daniel Midlands produces food ingredients, animal feeds and feed ingredients, biofuels and other products to manufacturers around the world.

The company has a market cap. of over US$19 billion.