Graincorp takeover could still be on the cards

THE proposed takeover of Graincorp that Treasurer Joe Hockey quashed last year could still be on the cards, with confident signals from the bidder, oilseeds giant ADM.

Comments by the firm's president Juan Luciano in Switzerland yesterday indicated the company was still interested in a takeover.

The head of the international group, which already owns 19% of Graincorp, said ADM would hold its stake and possibly try to increase it.

He told a financial conference the original takeover bid was "slammed a little by a wave of fear and nostalgia"; indicating ADM would work to improve the prospects of another bid.