Hockey rules out GrainCorp sale to US company
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The Federal Treasurer, Joe Hockey announced today that the giant US food company, Archer Daniels Midland (ADM), would be prohibited from acquiring a 100% share of GrainCorp. Although there is broad community opposition to the foreign takeover of Australia’s food assets, grain growers are divided on the issue. Many saw the takeover as an opportunity to improve the infrastructure and operation of GrainCorp.
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