Key Developments: Archer Daniels Midland Co (ADM.N)

ADM.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Japan Clears Archer Daniels Midland co Acquisition Of GrainCorp Limited
Tuesday, 23 Jul 2013 05:00pm EDT 

Archer Daniels Midland co announced that The Japan Fair Trade Commissio notified of its approval of ADM`s proposed acquisition of GrainCorp Limited. This brings the number of government agencies that have cleared the acquisition to five. South Africa`s Competition Commission and Canada`s Competition Bureau cleared the acquisition earlier this month, and the Australian Competition and Consumer Commission did so in June. The United States Federal Trade Commission also approved the acquisition last November. ADM continues to work with regulators in Australia, China, the European Union, and South Korea.  Full Article

South Africa's Competition Commission Clears Archer Daniels Midland co Acquisition Of GrainCorp Ltd
Thursday, 11 Jul 2013 06:30pm EDT 

Archer Daniels Midland co announced that The Competition Commission of South Africa today the Company of its approval of ADM's proposed acquisition of GrainCorp Limited. Canada's Competition Bureau cleared the acquisition last week, and the Australian Competition and Consumer Commission did so in June. The United States Federal Trade Commission also approved the acquisition last November. ADM continues to work with regulators in Australia, China, the European Union, Japan and South Korea.  Full Article

ACCC To Not Oppose Archer Daniels Midland Co's Acquisition Of GrainCorp Ltd
Wednesday, 26 Jun 2013 07:34pm EDT 

The Australian Competition and Consumer Commission announced that it does not propose to oppose Archer Daniels Midland Co's (ADM) proposed acquisition of GrainCorp Ltd. The ACCC concluded that the proposed acquisition would be unlikely to substantially lessen competition as the merged entity would continue to face competition from a number of sources. In forming its view, the ACCC conducted an extensive public review process which involved consultation with grain growers, industry bodies and competitors about the likely effect of the proposed transaction on competition. The ACCC’s review looked at two key issues. First, the ACCC examined whether the proposed transaction would substantially lessen competition in any market by removing the existing competition between ADM and GrainCorp. Second, the ACCC examined whether ADM would have different incentives to GrainCorp such that it would be likely to foreclose third party access to the storage and transport supply chain following the merger, which may in turn reduce competition between traders to acquire grain. In forming its view, the ACCC noted the importance of ensuring access to bottleneck infrastructure where necessary. In this context, the ACCC currently administers access undertakings for access to bulk wheat port terminal services.  Full Article

Archer Daniels Midland co In Talks To Sell Cocoa Unit-Reuters
Thursday, 20 Jun 2013 07:40pm EDT 

Reuters reported that Archer Daniels Midland co said, it is in talks to sell its cocoa business in a further sign that the U.S. agribusiness giant is focusing on expanding its footprint in the burgeoning global grains sector. A sale of ADM's cocoa division, estimated to be worth $2 billion.  Full Article

Archer Daniels Midland co Declares Cash Dividend
Thursday, 2 May 2013 12:00pm EDT 

Archer Daniels Midland co announced that its Board of Directors declared a cash dividend of $0.19 per share on the Company's common stock payable June 6, 2013, to stockholders of record May 16, 2013.  Full Article

GrainCorp Ltd Enters Into Takeover Bid Implementation Deed With Archer Daniels Midland Company
Thursday, 25 Apr 2013 07:20pm EDT 

GrainCorp Ltd announced that it has entered into a takeover bid implementation deed (Implementation Deed) with Archer Daniels Midland Company (ADM) under which ADM, subject to the satisfactory completion of limited confirmatory due diligence, will make an off-market takeover offer to acquire all the outstanding shares in GrainCorp not already held by ADM (ADM Offer). If the ADM Offer proceeds, and is successfully completed, shareholders will receive AUD 13.20 per share, comprising a cash payment ofAUD 12.20 per share under the ADM Offer and dividends totaling AUD 1.00 per share.  Full Article

Archer Daniels Midland Co Increases Cash Dividend
Wednesday, 6 Feb 2013 03:55pm EST 

Archer Daniels Midland Co announced that Board of Directors today declared a cash dividend of 19 cents per share on the company`s common stock payable March 13, 2013, to stockholders of record February 20, 2013. This is an increase of 8.6 %, or 1.5 cents per share.  Full Article

Explosion Forces Shutdown At Archer Daniels Midland Co Plant In Illinois-AP
Wednesday, 9 Jan 2013 01:07pm EST 

The Associated Press reported that Archer Daniels Midland Co (ADM) has temporarily shut down operations at its corn processing plant in central Illinois after an early morning explosion damaged the facility. ADM is investigating and working to determine the extent of the damage.  Full Article

GrainCorp Ltd Rejects Sweetened Archer Daniels Midland Co Offer-Reuters
Wednesday, 12 Dec 2012 05:30pm EST 

Reuters reported that GrainCorp Ltd rejected on Thursday a sweetened $2.9 billion bid from Archer Daniels Midland Co (ADM), saying the offer materially undervalues Australia's last major independent grains handler. Australian agricultural businesses have been targeted by big players in recent years, part of a global consolidation amid intense competition to feed fast-developing countries seeking food security. ADM lifted its offer last month by 3.8% from AUD11.75 per share to AUD12.20 per share in cash, a 40% premium to GrainCorp's share price at the time of the initial offer in October.  Full Article

Archer Daniels Midland Co Makes Revised Proposal To Acquire GrainCorp Limited For AUD12.20 Share
Monday, 3 Dec 2012 07:15am EST 

Archer Daniels Midland Co announced it has delivered to GrainCorp Limited a revised non-binding proposal, with the aim of arriving at an agreement with GrainCorp`s Board of Directors under which they would recommend to GrainCorp shareholders an acquisition by ADM of all of GrainCorp for AUD12.20 a share in cash, with shareholders keeping the dividend of AUD0.35 announced on November 15. ADM`s revised non-binding proposal is subject to GrainCorp granting ADM access to conduct confirmatory due diligence, completion of that due diligence satisfactory to the ADM Board, and a recommendation from the GrainCorp Board. ADM is ready to commence due diligence immediately and expeditiously. ADM`s proposed price represents a material increase of AUD0.80 from the initial proposal of A$11.75 made on October 19, after allowing for the recent dividends totaling AUD0.35. The revised non-binding proposal represents1: a 39.6% premium to the last closing price of GrainCorp shares of AUD8.74 on October 18; a 38.8% premium to the one-month, volume-weighted average GrainCorp share price of AUD8.79 up to October 18; a 35.7% premium to the six-month, volume-weighted average GrainCorp share price of AUD8.99 up to October 18; and a 45.9% premium to the twelve-month, volume-weighted average GrainCorp share price of AUD8.36 up to October 18.  Full Article

U.S. corn, soy cash bids recovering as farmer sales slow

CHICAGO, July 31 - Cash bids for corn and soybeans were recovering across the U.S. Midwest on Wednesday after a historic collapse last week as grain buyers sought to spur sales from razor-thin farmer holdings, grain buyers and analysts said.

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