Breakfast Deals: ADM's long harvest

Archer Daniels Midland may ease off its GrainCorp bid until after the federal election, while Steadfast’s cracker of a float augurs well for the IPO market.

With the federal election up and running, Archer Daniels Midland would be well advised to ease off on GrainCorp approvals until after September 7. Let’s just hope there isn’t another hung parliament. Meanwhile, Steadfast Group has provided a great boost for the local IPO industry, Hastings Funds Management has picked up some gas in Northern Ireland and Dexus Property Management could, well, hit the gas with its Commonwealth Property Office Fund play.

GrainCorp, Archer Daniels Midland

With both political parties preparing to throw everything at each other, including the kitchen sink, Archer Daniels Midland looks like it could pause its takeover offer for GrainCorp for the moment.

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