Business

Graincorp stocks soar after foreign takeover bid

STOCKS in Australian grain marketer Graincorp soared nearly 40% on Monday after a takeover bid was revealed from US giant Archer Daniels Midland.

The grain export company had been in a trading halt after ADM revealed it took over 14.9% of the Australian company through derivative equity deals earlier this month.

On Monday morning, Graincorp announced to the market it had received an official bid from ADM, sending traders into a rush buy on the company stock.

Have we gone too far in selling off the farm?

This poll ended on 21 October 2013.

Yes - 82%

No - 18%

This is not a scientific poll. The results reflect only the opinions of those who chose to participate.

Topics:  foreign investment, graincorp, stocks and shares


Local Real Estate

finda logo
Featured Real Estate
TUSSOCK ON THE PARK! Interest above...
House 4 2 2
Owners Want This Sold... $1,095,000
Apartment 3 2 2
High on the Hill with... $469,000
House 4 3 2
Waterfront Oasis in... AUCTION
House 3 3 3

Join the Community.

Get your local news, your way.

Stay Connected

Update your news preferences and get the latest news delivered to your inbox.


Marketplace

Special Offers & Promotions

Compare & Save