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ADM has not continued talks to buy Graincorp, CEO says
February 5, 2013 / 3:10 PM / in 5 years

ADM has not continued talks to buy Graincorp, CEO says

CHICAGO, Feb 5 (Reuters) - Archer Daniels Midland Co has not communicated with Australia’s Graincorp Ltd since Graincorp rejected a takeover bid in December, ADM’s chief executive officer said on Tuesday.

“There’s been no further conversation with them since their rejection of our last proposal,” ADM Chairman and CEO Patricia Woertz said on an earnings call.

She did not say whether talks had permanently ended.

Graincorp in December rejected a $2.9 billion takeover offer from ADM as too low but said it remained open to higher offers and would hold further talks with its U.S. suitor.

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