GrainCorp not seeking a buyer, focusing on growth -CEO

SYDNEY Wed Nov 14, 2012 9:07pm EST

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SYDNEY Nov 15 (Reuters) - Australia's GrainCorp said it is not looking to be sold and was focussing on a growth strategy after rejecting a A$2.8 billion bid by U.S. agricultural giant Archer Daniels Midland Co.

GrainCorp Chief Executive Alison Watkins told a conference call that the bid last month by ADM had been unsolicited and undervalued the firm.

"We have dealt with it," she said.

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