Graincorp reaffirms support for ADM bid

Graincorp Ltd's independent expert has signed off on the sweetened $3.4 billion takeover offer by US agribusiness giant Archer Daniels Midland, with the board telling investors to back it unless a better offer emerges.

Graincorp Ltd's independent expert has signed off on the sweetened $3.4 billion takeover offer by US agribusiness giant Archer Daniels Midland, with the board telling investors to back it unless a better offer emerges.

Independent expert Grant Samuel said that while a higher alternative offer was possible it was "relatively unlikely".

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