Making hay from Graincorp

With takeover interest in Graincorp having waned, it may be time to reduce holdings.

I recommended this company as a takeover target a long time ago, and before it had received a takeover bid I listed it as one of the most prospective stocks (Our top 10 takeover targets revealed). Archer Daniels Midland then came in late last year (see Graincorp harvest could get better) and made two bids for the company, with the second at $12.20 a share rejected. In the quiet that’s followed I feel it may be time to reduce holdings.

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