ADM gets clearance for GrainCorp acquisition
Today, the South Africa's Competition Commission notified Archer Daniels Midland Company (ADM) of an approved clearance for its proposed acquisition of GrainCorp Limited. The clearance for acquisition was granted by four government agencies.
Last week, the Competition Bureau of Canada gave its approval for the acquisition deal. Last June, the Australian Competition and Consumer Commission already gave its go signal for the transaction. November last, the US Federal Trade Commission also approved the acquisition.
The products offered by ADM plays a vital role for more than a century in the industry. Its workers of around 30,000 convert oilseeds, corn, cocoa and wheat to food products. These crops were also turned to animal feeds and sources for industrial and energy uses. The company has more than 265 processing plants including 460 crop procurement facilities. ADM continues to work with Australian, Chinese, Japanese, South Koreans and EU regulators. Further, ADM connects its products to clients in more than 140 countries.