Reuters: Hot Stocks: RPT-GrainCorp shares hit record high after fresh ADM bid

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

RPT-GrainCorp shares hit record high after fresh ADM bid Apr 26th 2013, 01:12 Thu Apr 25, 2013 9:12pm EDT SYDNEY, April 26 (Reuters) - Shares in Australia's GrainCorp Ltd rose 8 percent to a record high on Friday after the company agreed to a sweetened offer from U.S.-based agricultural giant Archer Daniels Midland Co. Under the latest offer, the third since ADM's initial approach in October 2012, GrainCorp shareholders will receive A$12.20 ($12.58) per share, with a further A$1 per share to be paid in dividends. In December, GrainCorp rejected ADM's A$12.20 per share bid, saying it materially undervalued Australia's last major independent grains handler. GrainCorp shares jumped as high as A$12.85 and last traded up 7.9 percent at A$12.81. The stock has traded as low as A$8.38 in the past year. ($1 = 0.9697 Australian dollars) (Reporting by Lincoln Feast; Editing by Paul Tait)

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions