Archer Daniels Midland says its pendingGraincorp Limited (ASX:GNC) takeover won’t mean restricted access to ports or increasing fees to uncompetitive levels.
The federal government is currently considering whether to approve a $3.4 billion offer for GrainCorp from the US grain giant, which the ACCC approved in June.
ADM grains president Ian Pinner says he understands the passion in the argument around agriculture and its assets but says he has found people are very encouraged by what ADM could bring to the country.
He says growers will keep access to ports and up-country silos.
The GrainCorp chief executive and management team would also stay in Australia and the company will set up a grower and community advisory group.
Graincorp posted a net profit of $88.2 million in the first half of its 2013 financial year.
GNC Price at posting:
$12.14 Sentiment: None Disclosure: Held
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