Archer Daniels Midland has played its final card to try to defuse the ‘small p’ politics afflicting its $3.4 billion bid for GrainCorp. Whether that also removes the ‘big p’ threat to the agreed deal is another matter.
The US-based ADM had originally committed to adding $50 million to GrainCorp’s own plans to invest around $250 million in its businesses over the next four or five years. Today it added another $200 million to that pot, swelling it to $500 million.