ADM sweetens GrainCorp bid

American-based suitor commits an additional $200m to strengthen Australia's agricultural infrastructure.

Archer Daniels Midland Company has sweetened its bid for Australia's GrainCorp (GNC) with a package of additional commitments.

In a statement, ADM said it would commit an additional $200 million to strengthen Australia's agricultural infrastructure, particularly through rail enhancement projects.

The suitor also flagged price caps on grain handling charges at silos and ports, commitment to grain infrastructure access for growers and third parties and a commitment to an "open access" regime for port services.

"Throughout our effort to secure approvals for our proposed acquisition of GrainCorp, we have worked constructively to create value for grain growers and the Australian economy as well as shareholders of and ADM," ADM grain president Ian Pinner said.

"We have had substantive discussions with growers, policymakers and other stakeholders, and we've been committed to finding common ground and developing solutions that address issues and opportunities that have been raised."

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