ADVFN - Advanced Financial Network.
HOME» NYSE » A » ADM Stock Price » ADM Stock News

Archer Daniels Share News

 Archer Daniels Midland Co. Stock Price
ADM Stock Price
 Archer Daniels Midland Co. Stock Chart
ADM Stock Chart
 Archer Daniels Midland Co. Stock News
ADM Stock News
 Archer Daniels Midland Co. Company Information
ADM Company Information
 Archer Daniels Midland Co. Stock Trades
ADM Stock Trades

ADM Considered Buying Viterra, While Agrium Picks Up Assets

By Doug Cameron Of DOW JONES NEWSWIRES Archer Daniels Midland Co. (ADM) said Tuesday it had looked at buying Canadian grain-handler Viterra Inc. (VT.T), but viewed the asking price as too rich despite identifying "substantial synergies." Glencore International PLC (GLEN.LN) announced an agreed bid of C$6.1 billion (US$6.2 billion) for Viterra Tuesday following a two-week sale process that attracted interest from many of the world's largest agribusiness and commodity trading concerns, according to people familiar with the process. The interest was sparked by deregulation in the Canadian agribusiness sector with the ending of a 70-year-old government monopoly over the wheat trade, as well as a gradual shift in the focus of grain production northwards because of long-term drought conditions in parts of the U.S.. Pat Woertz, ADM's chief executive, said in a statement that the company didn't submit a final bid. "We determined that at the valuation level we anticipated to be competitive, which has been confirmed by the announced deal, the acquisition would not meet our return objectives," she said. Viterra also attracted interest from Cargill Inc., the world's largest grain handler after ADM, as well as Bunge Ltd. (BG), according to people familiar with the situation. Neither confirmed they had looked at acquiring the Canadian company. Glencore's agreed deal includes the planned disposal of the bulk of Viterra's retail arm to Agrium Inc. (AGU.T) for about C$1.15 billion, excluding an estimated C$500 million in working capital required to run the business. Agrium said the planned purchase would be immediately accretive to earnings. -By Doug Cameron, Dow Jones Newswires; 312-750-4135;

Stock News for Archer Daniels (ADM)
05/01/201511:00:00ADM Announces Management Appointment
04/30/201515:00:00ADM to Present at BMO Capital Markets 2015 Farm to Market Conference
04/27/201511:00:00ADM Oilseeds Plants in North Dakota and Ontario to Increase Processing...
04/22/201511:00:00ADM Crop Risk Services Achieves Milestone in Plans for Innovative...
04/21/201517:03:05Companies Trade Suburbs for City Life
04/21/201510:10:41Statement of Changes in Beneficial Ownership (4)
04/21/201510:10:14Statement of Changes in Beneficial Ownership (4)
04/21/201505:21:17Tate & Lyle to Exit Europe Corn Syrup, Seeks to Revive Splenda...
04/21/201504:27:08Correction to Tate & Lyle Restructure Story
04/21/201503:22:43Tate & Lyle to Exit Europe Corn Syrup Operations, Restructure...
04/21/201502:00:00ADM Expands its Corn Processing Footprint with Acquisition of...
04/15/201514:33:35Additional Proxy Soliciting Materials (definitive) (defa14a)
04/14/201511:09:00ADM to Release First Quarter Financial Results on May 5, 2015
04/12/201501:45:1410 Top Dividend Aristocrat Dogs Do 5% To 16% April Upsides But...
04/09/201517:08:00ADM Announces Management Appointment
04/08/201513:03:12Commodities Today: Oil Mergers And Acquisitions Take Center Stage...
04/08/201511:00:00Launch of ARTCO Stevedoring Offers Customers Unmatched Service...
04/06/201506:20:00Grains: First Quarter Review And The Outlook For Q2
04/05/201505:23:38My Stock Watch List For April 2015
04/01/201517:03:30Statement of Changes in Beneficial Ownership (4)

Archer Daniels Midland and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations