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Graincorp Limited (ASX:GNC) has rejected a sweetened takeover offer of $2.78 billion from US food processing giant Archer Daniels Midland (ADM).
The grain handler claims the offer undervalues the company. ADM increased its offer to $12.20 a share in November which was slightly above the $11.75 per share previously offered.
ADM currently holds just over 19 per cent of the company. A 20 per cent stake will trigger an automatic full takeover bid.
Graincorp says it maintains a positive outlook and strategy.
Graincorp generated a net profit of $133.7 million in its 2012 financial year.
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Last
$8.96 |
Change
-0.055(0.61%) |
Mkt cap ! $1.991B | |||
| Open | High | Low | Value | Volume |
| $8.99 | $9.01 | $8.91 | $2.160M | 240.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 55 | 6689 | $8.95 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.96 | 5217 | 29 |
View Market Depth
| Last trade - 12.05pm 17/09/2025 (20 minute delay) ? |
| GNC (ASX) Chart |