Regions

European Commission gives clearance to ADM-GrainCorp acquisition deal

July 29
1:52 PM 2013

Archer Daniels Midland Company (ADM) was notified of an approved clearance for its proposed acquisition of GrainCorp Limited. There were six government bodies that cleared the acquisition deal. This included Canada's Competition Bureau, South Africa's Competition Commission and the Japan Fair Trade Commission. The first three agencies gave clearance earlier this month while the Australian Competition and Consumer Commission gave clearance last June. The US Federal Trade Commission approved the deal last November. ADM continued to work with Australian, Chinese and South Korean regulators for the deal.

The workers are ADM have helped in the transformation of crops into vital needs that people from various countries used today. Presently, there are more than 30,000 employees at ADM working worldwide to convert corn, wheat, oilseeds and cocoa into food products. The said crops are also transformed into animal feeds and other energy and industrial uses. The company has more than 265 processing plants and 460 crop facilities.

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