GrainCorp’s independent expert is professionally compelled to briefly entertain the possibility of a rival offer to ADM’s bid emerging. But it probably ain’t gonna happen. Meanwhile, iSelect’s float has flopped in a big bad way, which has many wondering what the peripheral damage is to the IPO industry. Elsewhere, there are happier times for fellow online player Carsales.com, Commonwealth Bank is getting more property attention and Rio Tinto can’t flog a diamond.
GrainCorp, Archer Daniels Midland
GrainCorp shares could be worth more than the $13.20 that Archer Daniels Midland has offered and a rival bidder could emerge with the will to pay for it.