ADM selling its GrainCorp stake for $387m

Andrew Marshall
Updated December 2 2016 - 12:07pm, first published 10:05am
Archer Daniels Midland's exit from the GrainCorp share register was made overnight at an 18 cent discount to yesterday’s $8.71 GrainCorp share price – and well below GrainCorp's May 2013 peak of $12.69.
Archer Daniels Midland's exit from the GrainCorp share register was made overnight at an 18 cent discount to yesterday’s $8.71 GrainCorp share price – and well below GrainCorp's May 2013 peak of $12.69.

GrainCorp’s share price shot up today after US farm commodities giant, Archer Daniels Midland Company (ADM), confirmed an underwriting agreement to sell its contentious 19.9 per cent stake for $387 million.

Andrew Marshall

Andrew Marshall

National agribusiness writer

Andrew Marshall is the group agribusiness writer for ACM's state agricultural weeklies and websites. He is a former editor at The Land and has worked in various Rural Press group roles in Canberra, North Richmond (NSW) and Toowoomba (Qld).

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