Archer Daniels isues statement regarding GrainCorp response to proposal Archer Daniels issued the following statement: “We note GrainCorp’s response today to our revised proposal. On Dec. 3, we approached GrainCorp’s board of directors with a revised proposal of A$12.20 a share in cash. (...) when combined with the dividend of A$0.35 per share announced on Nov. 15, our revised proposal represented a total value to GrainCorp shareholders of A$12.55 a share. (...) Our proposal offered more certainty, greater value and immediate realization of potential future value for GrainCorp shareholders than GrainCorp’s stand-alone plan. We intend to consider all our options with respect to GrainCorp and our 19.9 percent shareholding.”
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