PM may block GrainCorp sale

Abbott could intervene to prevent foreign takeover of GrainCorp, reports say.

Prime Minister Tony Abbott could intervene to prevent the foreign takeover of Australia's largest agribusiness despite support for the bid by his Liberal colleagues.

Treasurer Joe Hockey needs to make a decision about a $3.4 billion bid by US food giant Archer Daniels Midlands for GrainCorp (GNC) by December 15.

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