THE likely involvement of the Chinese Ministry of Commerce could significantly delay Archer Daniels Midland's takeover of GrainCorp, assuming it gets beyond its current "non-binding, indicative" level.
The Illinois-based grain handler initially unveiled a potential bid of $11.75 a share on October 19 and last week increased that by 3.8 per cent to $12.20, valuing the Australian listed target at $2.8 billion.
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