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Monday, August 11, 2014

GrainCorp did not consult ADM on its decision to appoint new CEO - chairman, (NYSE: GRAM)

GrainCorp Ltd said on Tuesday it did not consult former takeover bidder Archer Daniels Midland Co over its decision to appoint Mark Palmquist as new managing director and chief executive officer. Don Taylor, executive chairman and interim CEO of GrainCorp, said the company did not consult ADM despite it owning almost 20 percent and rumours persisting that the U.S. agribusiness would return with a renewed bid for GrainCorp in the future.

Grana y Montero SAA is a Peru-based holding company primarily engaged in the four business areas: Construction and Engineering Industry, Real Estate, Oil Services, and Operation of Public Concessions and Business Support Services. Shares of GRAM traded higher by 0.74% or $0.12/share to $16.40. In the past year, the shares have traded as low as $15.94 and as high as $22.14. On average, 126061 shares of GRAM exchange hands on a given day and today's volume is recorded at 101772.