Shares of U.S.-based agribusiness Andersons Inc (ANDE.O) jumped more than 6 percent on Friday, outpacing the sector, after a Bloomberg News report speculated that Glencore PLC (GLEN.L) could be interested in acquiring the company.
U.S. agribusiness company Archer Daniels Midland Co named Juan Luciano as chief executive, effective Jan. 1. Luciano succeeds Patricia Woertz, who will remain as ADM's chairman and is expected to retire in May.
Both Archer-Daniels-Midland Co. and GrainCorp Ltd expressed their disappointment over the ruling of Australian Treasurer Joe Hockey regarding the US corn processor's takeover of one of the largest crop handlers in Australia.
London-based Armajaro Holdings Ltd sold its coffee, cocoa, and sugar trading arm to Swiss agricultural trader Ecom Agroindustrial Corp Ltd after reporting a loss of USD7.5 million.
Treasurer for Australia Joseph Hockey extended the time frame for Australian regulators including himself to decide whether the acquisition of GrainCorp Ltd by Archer Daniels Midland Co would go against the national interest.
Cargill Inc. and Archer Daniels Midland Co. were in final stages of discussion to close an acquisition deal that could be worth as much as USD2 billion, according to sources.