The Australian grain handling company, GrainCorp, has received an unsolicited takeover bid of $1.7 billion. An investment firm called Long-Term Asset Partners is making the offer. The Australian government blocked a similar proposal from Archer Daniels Midland in 2013. The big difference with the latest offer, LTAP says it does not plan to sell off any GrainCorp assets. The CEO for GrainCorp is former CHS chief operating officer Mark Palmquist.
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