GrainCorp’s suitor is doing all it reasonably can to reassure growers they won’t be worse off under US ownership. But that’s not quite the issue. Meanwhile, Virtus Health has staged a brilliantly successful IPO; investment bankers now have a test case to show clients also wanting to float. Meanwhile, ASX’s capital raising has conspiracy theorists chatting up a storm and Discovery Metals says it’s talking… but won’t tell us anything else.
GrainCorp, Archer Daniels Midland
US grain giant Archer Daniels Midland has thrown in some extra cash for local farmers who don’t like the idea of GrainCorp becoming an American-owned company.