DataRoom AM: GrainCorp conservation

Joe Hockey’s Archer Daniels Midland block may fuel further protectionist fire but Qantas is unlikely to get government support anytime soon.

The Abbott government appears to have made a big mistake in knocking back Archer Daniels Midland’s bid for control of GrainCorp. In so doing they have fired up the protectionists, called into question their ‘open for business’ slogan and brought populist politics once again to the forefront. The whole episode would make anyone wonder whether the government is really serious about a debate on Qantas ownership.

Elsewhere, plans for the privatisation of Medibank Private progress, Saputo receives a blow in its pursuit of Warrnambool Cheese and Butter and a Canadian pension plan divulges its interest in the possible auction of Queensland Motorways.

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