BARNABY JOYCE SAYS HE’S PROUD OF GOVERNMENT’S REJECTION OF ADM BID

Member for New England and Minister for Agriculture, Barnaby Joyce says he’s proud of the federal government’s decision to reject the sale of Graincorp.

Treasurer Joe Hockey blocked American food giant’s Archer Daniels Midland’s $3.4-billion bid for GrainCorp, saying the takeover would be against the national interest.

Mr Hockey rejected suggestions his decision would send a message to investors that Australia is closed for business.