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ADM bid

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Archer Daniels Midland (ADM), the U.S. agriculture giant, offered a $2.8 billion bid for GrainCorp. After GrainCorp confirmed the bid from ADM, the Australia’s grain handler’s shares grew as much as 40 percent, to $12.50. According to analysts, the ADM’s takeover bid will not be enough. The bidding war is expected to start.

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