Archer Daniels Midland has increased its takeover for Australian rival GrainCorp, which has so far rejected the US agribusiness giant’s interest.

ADM has tabled an offer worth A$12.50 a share, up from the A$11.75 GrainCorp turned down last month.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The US group said it would also allow GrainCorp shareholders to keep a dividend worth A$0.35.

“We consider that our revised non-binding proposal reflects the value of GrainCorp’s business, taking into account GrainCorp’s 2012 results, its new initiatives announced on November 15, and its recently announced ordinary and special dividends totalling A$0.35. Our proposal also offers more certainty, greater value and immediate realisation of potential future value for GrainCorp shareholders than GrainCorp’s stand-alone plan,” chairman and CEO Patricia Woertz said.

Last month, after rejecting ADM’s A$2.7bn (US$2.8bn) bid, GrainCorp set out plans to increase EBITDA by A$110m over the next four years and issued a plan for a special dividend. 

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now