News Breaks |
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| October 19, 2012 |
| 08:30 EDT |  | ADM | Archer Daniels acquires 14.9% interest in GrainCorp Limited
Since Thursday evening Sydney time, Archer Daniels Midland Company has held an economic interest in 14.9% of GrainCorp Limited shares. ADM previously held economic interest in 4.9%, and on Thursday evening ADM acquired an additional 10% economic interest at a price of A$11.75 per share. ADM has approached GrainCorp with the aim of arriving at an agreement under which GrainCorp’s Board of Directors would recommend to its shareholders a cash acquisition by ADM. Any agreement would be subject to satisfactory due diligence, regulatory approvals and other conditions. |
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| May 15, 2013 |
| 16:55 EDT | | ADM | Berkshire Hathaway gives quarterly update on stakes
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| 14:57 EDT | | ADM | Archer Daniels says added $200M cost savings expected by end 2014
Operational improvements are expected to enable Archer Daniels Midland to realize $200M in additional cost savings by the end of 2014, and to free up an additional $1B in cash by the end of 2013, the company said in advance of its presentation at the BMO Capital Markets 2013 Farm to Market Conference. The additional $200M is expected to come from reducing energy and water use; implementing a companywide maintenance-management system; standardizing processes, procedures and inventory controls; and leveraging the company’s scale in the area of procurement. The additional $1B in working cash improvements would bring the total the company has unlocked since mid-2012 to $2B, through better inventory-management; monetization of underutilized assets as part of an ongoing portfolio management effort; extracting cash from various joint ventures; and improved processes for managing payables and receivables. |
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| 07:31 EDT |  | ADM | BMO Capital to host a conference
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| May 10, 2013 |
| 17:07 EDT |  | ADM | Archer Daniels files automatic mixed securities shelf
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