Archer Daniels says balance sheet supports M&A opportunities, capital plan Archer Daniels says its 2013 performance puts it ahead of schedule on its cost management plan, including energy efficiency. The company says its balance sheet supports its previously announced capital plan and leaves it flexibility for M&A opportunities. Comments from Q4 earnings conference call and slides.
Archer Daniels sale of European chocolate business to Cargill receives clearance Archer Daniels Midland's chocolate business in Europe has received conditional clearance from the European Commission to be acquired by Cargill. This completes the regulatory approval process for the global deal. After closing of the transaction, three chocolate, compound and liquor production sites in North America and three chocolate and compound production sites in Europe and more than 650 employees will transfer to Cargill as well as three brands. Addressing the European Commission's competition concerns, Cargill has agreed to divest ADM's industrial chocolate production facility in Mannheim, Germany. The facility will be kept as a separate entity with its own interim management until an agreement with a prospective buyer has been made.