Graincorp stocks soar after foreign takeover bid
STOCKS in Australian grain marketer Graincorp soared nearly 40% on Monday after a takeover bid was revealed from US giant Archer Daniels Midland.
The grain export company had been in a trading halt after ADM revealed it took over 14.9% of the Australian company through derivative equity deals earlier this month.
On Monday morning, Graincorp announced to the market it had received an official bid from ADM, sending traders into a rush buy on the company stock.
Have we gone too far in selling off the farm?
This poll ended on 21 October 2013.
This is not a scientific poll. The results reflect only the opinions of those who chose to participate.