Digesting GrainCorp post ADM

GNC is off the takeover menu for now … here are the key investment facts.

Late last week the Federal Treasurer Joe Hockey caved in to his agrarian socialist colleagues in the National Party and rejected the takeover bid by US firm Archer Daniels Midland (ADM) for GrainCorp Limited (GNC).

On November 27, in Six hot takeover targets, I warned that the risk/return trade-off for GNC was not good at a share price of $11.20 for just this reason.

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