GrainCorp has announced its intention to accept a conditional takeover bid from US food company Archer-Daniels Midland.
The move comes after the grains handler rejected an offer from the same food giant in October last year.
The deal will now be looked over by an independent expert, with a deadline of December 31.
Chairman Don Taylor says the board believes that the ADM Offer highlights the strategic value of Graincorp’s business and unique assets.
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