GrainCorp's board has not yet responded to the new offer. It had rejected ADM's prior bid due to its belief that the offer "materially undervalued" the company.
GrainCorp is the only major publicly traded grain handler in Australia.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move.
-- Written by Brittany Umar.
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