SYDNEY Nov 29 Archer Daniels Midland (ADM)
said it will consider increasing its stake in GrainCorp
after its takeover bid for the grain handler was
rejected by the Australian Treasurer on Friday.
"The Treasurer left the door for open for a larger stake and
we'll consider that, but at this point we have not come to any
full thoughts," said Victoria Podesta, Vice President, Chief
Communications Officer at ADM.
ADM is permitted to acquire up to 24.9 percent of GrainCorp.
Australian Treasurer Joe Hockey rejected ADM's A$2.8 billion
takeover for GrainCorp, the country's largest listed
agribusiness, saying the deal was contrary to the national