FIRB sets a new national interest test

In blocking ADM’s GrainCorp bid, the government has sent a strong message that community attitudes and popular support now play an integral part in foreign investment decisions. It sets a dangerous precedent.

The Conversation

At any other time, Friday’s decision by treasurer Joe Hockey to reject Archer Daniels Midland’s (ADM) $3.4 billion takeover bid for GrainCorp might have been just another controversial foreign investment decision.

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