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Archer Daniels Midland’s proposed takeover of Graincorp Limited (ASX:GNC) may cause some division among the coalition government, according to media reports.
The Nationals say they are unified in their opposition to Treasurer Joe Hockey potentially approving the bid.
A decision has been delayed until December 17.
The ruling has the potential to send mixed signals to foreign investors at a time when Prime Minister Tony Abbott has declared Australia open for business.
Liberal members of the coalition who support the takeover bid are reportedly worried that Nationals' stance will create problems for the government.
Graincorp posted a net profit of $88.2 million in the first half of its 2013 financial year.
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Last
$7.58 |
Change
0.030(0.40%) |
Mkt cap ! $1.685B | |||
| Open | High | Low | Value | Volume |
| $7.55 | $7.62 | $7.50 | $5.677M | 749.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1906 | $7.54 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.58 | 2967 | 1 |
View Market Depth
| Last trade - 16.10pm 31/07/2025 (20 minute delay) ? |
| GNC (ASX) Chart |